Energy stocks still have some interesting topping patterns. They’ve had tremendous strength for weeks, but I think they’re ready to flip lower.
Oil has been completely bananas today. Aside from this insanity, energy stocks still have some interesting topping patterns. They’ve had tremendous strength for weeks, but I think they’re ready to flip lower. Here are a couple………
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……..and Apache………
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I think the broad energy ETF symbol XLE does a good job showing how a reversal is possible.
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This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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