XEJ Energy Sector looks heavy and is showing signs for a selloff

XEJ – ASX200 Energy Sector

Sector Analysis : XEJ – ASX200 Energy Sector

Current Price : 8744

Status : On watch for move lower

The XEJ has been grinding higher with very little conviction since the start of 2016 after a serious selloff since mid 2014. We see that the price has broken support around 8635 but is still holding the trend higher so we see major potential for a push lower.