I
was away for a week and got back just in time to see some goods news for the
Canadian energy sector.
In
the last post we looked at the US
10-yr T-bond yields at 1.76% and the Select SPDR Energy ETF (XLE) which was breaking
up and out of a large bullish symmetrical triangle. Now today’s good news on
the U.S.
allowing LNG exports has got the natural gas producers participating to boost the
broader energy sector ETFs. The TSX was closed today but in the U.S inter-listed
Canadian gassy CNQ and ECA jumped about 5% so look for our TSX listed iShares
S&P/TSX Capped Energy Index Fund (XEG) to have a big up day tomorrow. Also
that big bullish reversal on gold was good news for the battered gold stocks
Thanks
to StockCharts for the Monday action on CNQ
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