$XLE - RC -
Added 2023-08-25 11:41:00 +0000 UTC$XLE has survived in this large ascending wedge, from my count it shows that Wave 5 will break out of this wedge to the upside but this should not offer confusion, as we know, when Wave 5 is complete, we will see an ABC corrective wave next......and this is an ascending wedge formation which is also a bearish formation.
For now, the trend is to the upside and the price is still above the 50 and 200 Day MA too and we may get a bullish cross of the 50 day through the 200 Day MA shortly too.
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Gareth Neary
2023-08-27 15:48:27 +0000 UTCWhat's -RC stand for?
Amr Kareem
2023-08-27 09:52:56 +0000 UTC
