Technicals suggest energy sector's surge looking stretched
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Technical indicators are signaling that the surge in the energy sector may be reaching its limit. The article discusses how the recent rally in energy stocks has pushed the sector to overbought levels, according to technical analysis. The surge in oil prices and positive sentiment towards the sector have contributed to the rally. However, indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest that the sector is overextended and due for a correction. The article also mentions that investors should be cautious and consider taking profits or implementing risk management strategies. The energy sector's performance and potential correction are important factors to watch for investors and traders.



https://www.marketwatch.com/livecoverage/cpi-report-for-march-dow-futures-steady-ahead-of-key-inflation-data/card/technicals-suggest-energy-sector-s-surge-looking-stretched-gt5m8Hgt48EtKO2sNOjF