XLE Attracts Consistent Buying from Blue Box Zone

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of state street energy select sector SPDR ETF ticker symbol: XLE. In which, the rally from April 2025 low is unfolding as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

XLE 1-Hour Elliott Wave Chart From 3.03.2026

Here’s the 1-hour Elliott wave chart from the 3.03.2026 Midday update. In which, the cycle from the 16 December 2025 low ended in wave ((3)) at $59.29 high. Down from there, the XLE made a pullback in wave ((4)). The internals of that pullback unfolded as Elliott wave double three correction where wave (W) ended at $57.88 low. Then a bounce to $58.36 high ended wave (X) & wave (Y) managed to reach the blue box area at $55.33- $53.46 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

XLE Latest 1-Hour Elliott Wave Chart From 3.17.2026

This is the latest 1-hour Elliott wave Chart from the 3.16.2026 Post-Market update. In which the XLE is showing a very nice reaction higher taking place, right after ending the double three correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $59.29 high is needed to confirm the next leg higher minimum towards $60.24- $61.75 target area before profit taking & pullback takes place in 3 or 7 swings.

Source: https://elliottwave-forecast.c...