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| XLE Daily |
We recovered well from the little dip. Today and the previous candle both made higher highs and higher lows. We haven't closed below the 8ema since we entered the trade. And we have a relatively clear path to the 50sma Target.
Short term Stochastics are high, but if you look back to May 17th through June 10th, you'll see Stochastics pinned near the top as price continued higher. So, this can happen again.
We may encounter some resistance at the previous swing high around 77 on June 29th. But the 50sma (our Target) is gently sloping down. So it may be close to the 77 level anyway.
We made a nice green candle today and the trade is on.
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