The December futures contract has met two key upside extension targets.
Price is clearly above the 200-day and 50-day simple moving averages.
I would have my initial stop on a re-entry in this stock below the $218.00 low made on July 24.
But it needs to take out a high in the coming weeks.
Energy Select Sector SPDR may look like a short, but could become a buy if it breaks above key resistance.
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