Not Surrendering XLE!

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Being an energy bear hasn’t been easy in recent weeks, although the past couple of days may have finally marked a peak. I am still captivated by the pattern in the oil & gas index which shows a major resistance zone has been tagged.


The way I have expressed this opinion is by being long December 17 2021 XLE in-the-money puts. My target price is just above $51, although ultimately I think it will go much lower.

slopechart XLE