The multi-month decline in oil may or may not have run its course, but the SPDRs Select Sector Energy ETF, XLE, looks to be setting the stage for a potential turnaround.

It has already lifted from the mid-January low to establish a higher low in late-January, both of which are technically positive. The higher low indicates a willingness on the part of buyers to step in and provide some support via buying the dip [Read more…]