03/27 – 03/31 Energy

XLED1      XLEw

On the weekly chart we see that on 4/11/2016 bulls have broken the downtrend and then, they created a nice trendline ( with violet on charts ) , from which every time price goes up, last week we broke this trendline and let’s see if bears will hold below . Also we have a minor downtrend form 12/12/2016 to present. The prior pivots for trading this week are 68.43 and 71.10 on XLE. As long as XLE hold  below 71.10, stay bearish and watch for follow through to clear 68.43 and after 67.10.

Weak stocks : 

XOM, CVX, COP, APC, DVN, HES, HP.

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