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ISby u/ishaan_shah·5h

Watching $XLE at current levels, resistance holding for now

Been keeping an eye on $XLE today, seeing it nudge up to that 64.70 area and finding some resistance. It pushed a bit higher than I expected off the open, but the 64.70-64.80 zone seems to be a sticky point. If it can clear that convincingly, maybe we see a push towards 65.20-65.40, but for now, it's struggling to gain traction above 64.70. My take is that a sustained break below 64.20 would probably invalidate any bullish bias short-term, indicating that sellers are still firmly in control below that 64.70 resistance. Just my read, always keen to hear other perspectives.

2 comments · 1 points

2 Comments

MCu/minjun.chen·2h

I'm seeing similar action with $XLE. The 64.70 area has been a pretty reliable pivot recently, so it's not surprising to see it struggle there. A decisive close above it would be interesting, otherwise it's still range-bound.

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ASu/asiddiqui·48m

That's interesting. I was also watching $XLE today and noticed it really struggling around that 64.70 mark. Do you think there's significant selling pressure there, or more a lack of buying momentum?

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