Due to the Juneteenth holiday, the market is closed on Monday, June 20th so we have a short holiday week ahead.
Energy (XLE) has been one of the strongest trends in the market this year. We’ve been buying every dip until now.
Last week, energy (XLE) and natural gas (UNG) lost their buy signals and bullish structure. We saw energy, natural gas, and names like VLO and OXY print sell signals and show steep percent declines.
When it comes to buying the dip or playing the trend, focus on structure.
In the video above, we’ll review the structure change in energy names. We’ll also review one of our favorite setups printing bullish big 3 bars with a daily squeeze across multiple time frames.