XLE coming out of year-long base

Long

SPDR Select Sector Fund - Energy Select Sector (BATS:XLE)

BATS:XLE SPDR Select Sector Fund - Energy Select Sector

XLE and oil stocks have been consolidating since 2022 and has finished the 3-wave correction and is moving out of this long term base. Oil futures also has bottomed. Another confirmation is that all these instruments are holding above the moving averages.

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