XLE Piker Signal hit Oversold on Friday and was oversold intraday (see our tweet). This is setting up for a nice trading signal for XLE to the buy side with Energy. There is clear easily definable support at 84.65-84.00. This is highlighted in the green shade. This means our stop is easy, we can move it slightly below this level. With our target being 2%-5%+ from this level. Our list signal was on 9/27 and XLE rallied 4%. Given this price structure we could see XLE rally at least 4% if not more. I think a fair target is 90 here. If you want more return which we are electing to do.

If you want more return which we elected for, you can chose $ERX so its a 2% loss for a 10% upside. Thats a fair trade.

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