The energy sector in the US broke out a converging triangle upward with the help of oil and allowed shares in the energy sector to jump higher despite the correction made by the S&P 500 index.
In the attached image we see a ETF in the energy sector that broke out, as we predicted in a previous article, an exact pattern of a converging triangle according to the exact theoretical model of Ralph Elliott.
The theoretical model of a converging triangle according to Ralph Elliott's wave theory:
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