XLE AT A INTERESTING PRICE WHEN LOOKING AT THE PAST

Does this mean anything?
Yes and no.
you need more to go on than just this to project the move, however, if you assume middle trend is where this price wants to go to stabilize, and you see we are at a major spot when it comes to horizontal support.
I really can't tell yet where it goes.
The upside percentage is far less than the potential downside percentage.
Upside is favored, but again, I can't really tell on this one to say anything other than, it's at a horizontal mark that has been historically important.