But....could it be? Really? I've never seen one of these before, especially for an industry that's basically just had its ass handed to it by a failure of OPEC to come to an agreement on curbing the collapse in Crude Oil. Energy ETF XLE is generally bearishly configured: the EMA's are crossing over to the down side and an ascending channel looks like it's set to break. But out of nowhere a bullish declining wedge has appeared making it seem like the large ascending channel will continue right after a second touch is put in on the support line. This could be played with tight buys and stops at $65.50. This could be an epic contrarian play right now (as the article previous posted article by Tim Knight points out).