Jeff Kilburg breaks down a trade in the Energy Select SPDR.
Geopolitical tension continues to escalate in the Middle East. Crude oil is nearly $10 higher since October officially kicked off. I believe the price of WTI crude will push even higher in October. I want to use the 2024 lagging Energy Select Sector SPDR ETF as way to express my short-term bullish view on the price of oil. XLE YTD mountain Energy Select Sector SPDR, YTD Oil markets are measuring the possibility of an imminent air strike by Israel on Iran's crude and energy facilities.
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