Energy Select Sector SPDR Fund (US: XLE) upside rebound since Q420 has been riding on the increased oil prices. Furthermore, multiple technical indicate that the stock can rally further:
*Expected timeline of the trade is 10 weeks from the date of report issuance.
*Expect some minor pull back after prices reach between US$57.46-US$59.38.
Ichimoku Kinko Hyo
Red dotted line = 9 Periods Tenkan-Sen
Blue dotted line = 26 periods Kijun-Sen
Green Line B= 52 periods Senkou Span B
Pink Line A = 26 periods Senkou Span A
Black line = 26 periods Chikou Span. Lagging line