We can see this is a multi year chart which a defined true uptrend line. Along the way, the energy sector has moved substantially above its mean trend, but in the end, always reverts back to trend.
With only a few dollars more to reach the trend, and an RSI reading that is NOT OVERSOLD as of yet; I question if this long term trend can be sustained.
Is this a large Head N Shoulder pattern that will put the energy complex into the poor house, the middle east looking to go to war, and a major sell signal for all risk assets??
I don't have the answer yet, but believe we are about to find out real soon.
Tim Kathlina
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