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Chart of the Day: More Downside in Energy ETF?

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Energy was the only the only major sector to fall last month. Is there more downside risk?

The first pattern on today’s chart of the SPDR Select Sector Energy Fund is the November 6 close of $85.70. XLE …

For more, please click here to view the related idea and chart analysis on TradingView.

SPDR Select Sector Energy Fund (XLE), daily chart, with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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