The Energy Select Sector SPDR (XLE, Financial) is currently nearing critical pivot levels that may influence its future movement. Calculated using the DeMark method, the identified pivot high stands at $83.41, while the pivot low is at $81.92.
Market trends suggest that if the price moves above the pivot high, it could indicate a bullish pattern, suggesting potential upward momentum. Conversely, if the price falls below the pivot low, it may signal a bearish trend, indicating possible downward pressure.
Investors will be closely monitoring these levels to gauge potential trading strategies and market sentiment regarding the XLE.
