CFD Trading – Buy Energy Select Sector SPDR Trust (XLE.NYS) at $33.50. Stop at $29.90 and Target at $39.50.

Energy Select SPDR Stock Code XLE.NYS

Price broke above the cloud on 11 November but was unable to stay above the cloud. However the decline managed to stay above a previous resistance turned support line at $31.65. Price is starting another attempt to cross over the cloud.  Conversion and Base lines had a bullish crossover, hinting of a bullish trend ahead. Lagging Span is above price of 26 days ago but is below the cloud at the moment, unable to confirm the bullish trend. MACD has a bullish crossover and is moving over the zero line, hinting of a bullish trend ahead. We think price can move higher to $39.50 if it does not drop below $30.

$33.50                Buy
$39.50                Price Target
$29.90                Risk Management Stop
3 weeks              Trade Duration

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