Jul. 23 at 3:32 PM
$XLE
$XLE may be setting up for another leg higher.
The Strategic Petroleum Reserve is near its lowest level since 1983, refining margins are surging, and speculative positioning has already been washed out.
That creates a powerful setup: a structural government buyer, strong cash flow from
$XOM and
$CVX, and record profits for refiners.
Our trade idea:
✅ Buy
$XLE at
$58.31 or better
🎯 Initial target:
$65 to
$70
🛑 Risk line:
$55
The market is still focused on tech. Energy may be the squeeze hiding in plain sight.
Full thesis and options strategies in this week’s Resilient Trader.
https://www.theresilienttrader.com/p/spr-rebuild-refining-squeeze-in-xle
