It's Energy’s Turn in the Commodity Cycle 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Jason Perz.
The Energy Sector ETF ($XLE) closed at a new all-time high this week, while crude oil futures are on track for their best week in history.
In commodity bull markets, gold and metals tend to move first, with oil often following later in the cycle.
$XLE looks similar to how gold traded before its parabolic run, and could offer a potential blueprint for the path ahead in the Energy sector.
The Takeaway: Energy may be entering the next phase of the commodity cycle amid historic gains in crude oil.
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