XLE Ascending Triangle breakout.

A close above 79 would lead to a breakout. Supporting this theory is rising inflation and a more dovish Fed. Recently Fed Governor James Bullard stated “If it was just me I’d stand pat where we are and I’d try to react to data as it comes in,”. More thank likely we will see more members of the Fed turn into doves as the year nears end. Which should create a bull run in the energy sector and commodities.