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Thursday, April 30, 2015 1:08:20 AM
XLE Energy Stocks Reversal Confirmed Look Like a Good Buy With T Boone Pickens Calling $70 oil by EOY.
After months of patiently waiting, I think it’s finally time to go long the energy sector.
The three catalysts that could power energy sector higher:
- Number of rigs taken offline in the U.S. is starting to improve the supply/demand ratio.
- ECB QE is starting to work
- U.S. economy may improve in the second half of 2015 like the Federal Reserve has been predicting
The chart of XLE looks like a textbook reversal pattern:
Source: Energy Stocks Reverse, Time To Go Long
After months of patiently waiting, I think it’s finally time to go long the energy sector.
The three catalysts that could power energy sector higher:
- Number of rigs taken offline in the U.S. is starting to improve the supply/demand ratio.
- ECB QE is starting to work
- U.S. economy may improve in the second half of 2015 like the Federal Reserve has been predicting
The chart of XLE looks like a textbook reversal pattern:
Source: Energy Stocks Reverse, Time To Go Long
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