Energy finally finds support /Fibonacci

After a long period of consolidation, energy broke-down of the parallel channel. Using Fibonacci retracement tools, we retraced from the 61.8% level, also known as the Golden Ratio.

It is currently trying to break its 10sma resistance (on average intraday volume - which is not great)

I would want to see a close above the 50% retracement level to feel more confident, as rotations have not lasted more than 1-2 weeks.


Keeping on a watchlist.