Commodities Analysis and Opinion

Crude and Energy Stock Gap

11/21/2022

Less than a minute

2022.11.21 03:57

Tim Knight

Here are the 2014 and 2018 gaps. In one case runs away to the downside and the doesn’t peak until later, in the other the ETF catches up amid a broad equities correction

2018 is a closer analog to the current backdrop in equities assuming the rally is done.

XLE-CL Chart

2014

XLE-CL-Chart

2018

XLE/CL Chart

Crude/XLE spread presently

Crude/XLE Spread Presently

Spread tinted for emphasis

11/21/2022

Less than a minute

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