Energy Stocks Lagging

08/10/2009 3:54 pm EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

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Though many of the other key stock sectors have moved well above the June highs, the energy stocks, including XLE, are still well below their highs. There is still strong resistance for XLE in the $53-$55 area. Key short term support at $48.80 which if broken should signal a decline to the $45-$46 area.