Energy Sector at Support

02/26/2009 2:03 pm EST


Thomas Aspray

, Professional Trader & Analyst


The weekly chart of the S&P Energy Sector shows that it is testing long-term chart support. The RS is still above its MA after breaking its short-term downtrend, but now needs to move above its recent peaks to suggest it will outperform. The crude oil market is looking a bit better, which should help.