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Oil and Energy Update. DeMARK 13 risk levels hit and trading off. Downside open.

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Oil and Energy Update. DeMARK 13 risk levels hit and trading off. Downside open.

PetrTrades
Jun 2, 2022
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WTI completed the 13 sequential, hit the risk levels we outlined last week and has now price flipped today pending the current bar's close. This is confirmation of a medium term top to me and I would be looking for rotations lower here until a 9 buy setup completes or the plurality gets to a reasonable buy zone.

XOP will be getting 13 sequential and 13 combo today

I'm short a basket of XLE names for a trade here. Will be stopping out if Crude goes back above this week's high.

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