Weekend Sunday July 30, 2017
I'm always nervous about taking any position in the summer so let's look at some two hour or 240 bar charts.
Apache APA
Apache hit some resistance at 51. Each pullback thus far as stopped at a higher low. So we may be able to at least get a buy above 49.50.
XLE Energy ETF
Hmm, same picture!
XES Energy Service
As mentioned yesterday, XES is not enjoying the same pattern and that is worrisome. Let's watch where the full stochastic bottoms and if pirce can hold above that last low at 15.2.
USO
USO the US Oil ETF though has been on a tear. Note full stochastic topped out in upper panel.
Bullish Percent Energy
Topping 50% will be important to establish that this move is across the board and the real deal. This week will tell the tale.
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