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| XLE Daily |
Well, you can see we had a higher high and higher low today, and we closed above the 3ema. Also, you can see the Bollinger Bands are blossoming outward. These are good bullish indications.
However, we closed near the bottom of the candle, and Stochastics are extremely over bought. Also, we are coming into a previous congestion area from the month of November. These indicate risk of a reversal. If we do reverse, then it'll be a question of how far.
It looks like we might be at an inflection point. We'll probably find out this week. We still have a distance to go to get to our 102.50 Target.
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