Dear Friends,
After a few days consecutive drop, I must say today this sector regained its composure with grace. Energy sector ETF, XLE gaps down at the open and close midday at a high. This is a temporary bullish signal.
Do take note that we remain bearish on this sector midterm. But as oil has dropped almost $10 in 4 days, there may be a slight pause or recovery. So in the meantime, let it recover.
Find opportunity in future to short the sector when it does...
Rgds
Daniel
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