Energy Stocks Acting Stronger

01/27/2009 9:21 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

The Energy Select Spyder ETF (XLE) continues to perform better than the S&P 500 despite the choppy action in crude oil. The RS is above its WMA and has broken out above several month resistance. A move above chart resistance at $55 would be positive. Initial support currently lies at $43-$44, with major support at $39.50.

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