I don't have much time this morning but I will leave you with a...

I don't have much time this morning but I will leave you with a LT ASX Energy stock chart to ponder on.

First, it notable that energy stocks are cyclical in nature, very in fact, does not go higher in a straight line and tends to retrace quickly after a sharp rise
Second, LT trend is down since GFC , suffice to say that with move towards ESG, the sector was not much loved until we had the energy crisis recently. Crisis will end at some point.

Anyone who held XEJ from peak of 2008 would still be down 50% - 50% loss after 14 years !

And if you notice, XEJ has started to turn lower, a signal that it may not be able to break above the LT downward trend line and that this rally is in the midst of ending.


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XEJ Index Charts and Quotes — TradingView