Summary
- XLE has broken out of a downtrend that began in late 2016.
- With crude oil potentially breaking out of its downtrend, the upside for XLE could be substantial.
- I see XLE as relatively undervalued to crude oil, and plan to remain long if crude oil confirms its upward move.
Read the full article at Seeking Alpha right here: XLE Breakout – Energy Select Sector SPDR ETF (NYSEARCA:XLE) | Seeking Alpha
