SPDR Select Sector Fund - Energy Select SectorArca
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Hey Traders, We are seeing a setup for a possible trend reversal in Energy. I recently posted an idea regarding energy and in that idea, I explained why a new micro trend may be beginning. I am seeing the same setup again and have entered a long position to take advantage of another micro trend.! Be sure to check out my previous idea "Energy Sector Rally! New Micro Trend Beginning" (Idea linked below). All of the same signals are happening here again! There is also a possible Bearish Cypher Pattern that may complete near $68.30. I will be taking a smaller target for this reason and may even decide to flip the trade to a short if my target is met.
Entry- 67.85 Stop Loss- 67.40 Target- 68.30 New Gold and Silver analysis coming soon. Good luck Traders!