Low Volume Still a Concern

05/15/2009 10:07 am EST


Thomas Aspray

, Professional Trader & Analyst


The energy sector ETF (XLE) pulled back to first support this week, but turned higher on Thursday. A rally back above $50.50 should signal that the uptrend has resumed, but strong resistance lies in the $52-$54 area. Volume on the rally from the lows has not been impressive. There is good support at $45.

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