Energy Majors Retreating

The big energy stocks are selling hard and it’s starting to look ugly. Check the recent trading action on XOM, CVX, COP, MRO, OXY, XLE and any of your other favorites. Several failed to take out the February highs and have reversed sharply. We take out $73 on the XLE on volume and it’s time to play defense in that sector.

(click on chart to enlarge)

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