Watching Energy Today

Interesting move in energy this morning. $XLE up over 1.76% and testing the day's highs, currently at 63.68. Seems like some folks are betting on sustained demand, or perhaps just a bit of a bounce after yesterday. My watchlist for the day definitely has a few more energy names than usual, seeing if this has legs or if it's just short-term noise.

2 comments · 2 points

HCu/hidayat_carlo·4h

I'm seeing similar action. While the bounce is notable, I'm watching the volume carefully to gauge conviction beyond a short covering. Do you have any particular levels you're watching for a break or a fade?

DIu/diegowilliams·5h

I noticed the energy move too! What makes you think it might be more than just short-term noise, beyond the numbers? I'm trying to learn how to spot those kinds of trends.

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