Technical Analysis: Energy ETF Is Pushing Highs


Energy stocks have been consolidating as major companies report earnings. Now they could be back in focus with inflation still rising and the economy reopening.

The most important feature on the SPDR Energy ETF’s chart is price zone around $56. It was a crucial support area in January 2020 before XLE crashed to a generational low. It was also a peak in June, but the fund has remained above it the last five weeks.

Next, prices have shown new support at…

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SPDR Energy ETF (XLE), daily chart with selected patterns, courtesy of TradingView.
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