XLE update 5/1

XLE: now in major b. Clearly down trending, but reached first S/R zone (red) and find support around $66 for intermediate-a of major b (b-waves ALWAYS 3 waves: abc). For now not seeing any reversal yet. Major-b likely to $63-$61 eventually. Please note, after major b comes major c (up); but way too early to tell where yet when and where it will target.

xle