Xle

CL1 conract has exceeded its previous high at 63,90 on the daily chart which means uptrend is intact.
I'm a bit concerned that while oil has risen from 59 to 64, both XLE and OIH stay virtually at the same levels (stocks failed to go up with commodity). But anyway, the bullish case is still valid, imho, supported both by the chart and seasonality.
 
Hey is anyone getting any early fills on xle a couple cents on any ecn's or any other stocks, for that matter?
 
the 50 day moving average is showing some heavy resistance on both XLE and OIH...personally i wouldnt touch both of those until that moving average gets broken with high volume.

they've interviewed Eric Bolling (independent crude trader) on CNBC a lot the past few trading sessions and he seems really bullish on crude...first he stated he would be a buyer around $55, and a few days later he said around $57-$60.....and he continues to say their isnt a lot of short interest due to all the uncertainties of political news and events. I dont know how much you would want to listen to him (and anyone on CNBC), but he was correct in his market analysis last week, and from what i've read about him in 'Trader' magazine he sounds like a pretty successful energies trader

good trading all
 
Quote from GlobalFinancier:

Partial decline in consolidation range, BULL!
More...

I agree. as long as it stays in the weekly up channel one should not think bear.

As a matter of fact setting up a pair trade with transports (IYT) may be a timely idea.
 
OIL: I dunno this is quite the sell off (much lower low) that you can see in last downleg. And since then there is weak buying at best, with a strong ceiling so far.

check this chart, yo:
 

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There is a real battle going on at the Daily chart 50 SMA for OIH/XLE now.

Will be interesting to see how this plays out. I favor the short term bearish case, due to sideways/lower Crude prices and no major fundemental reason to buy...for now.

JMHO. :)
 
OIH (+1,9%) breaking out of the reverse h&s formation. Moreover, doing that with runaway gap which reinforces the pattern.
IMO, it will test January highs at 157,5 in April.
 
I did have a position in a refinery stock, am still bullish on oil, but it all went into gold which should benefit indirectly from higher oil.
65.37 may contracts BULL BULL BULL.
 
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