Energy stocks ease back, but chart points to more gains ahead

is down more than 1% on Tuesday after racing 8% higher for the month. The sector saw a massive surge on Monday after crude oil popped following an attack on a Saudi Arabian processing facility.

"You want to look to fade this rally. If you look back in the past, over a peak through September and October, crude oil has sold off about 8% from peak to trough," Baruch said Monday on CNBC's "." "There's going to be an opportunity here seasonally and fundamentally and technically as things get exacerbated to the upside."

However, there is some more room for the XLE ETF to run before it hits a wall, according to Baruch's charts. The XLE ETF has 6% upside before reaching that upper band of resistance. It hasn't traded as high as $66 since April.

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U.S. energy secretary says oil market robust after attack on Saudi plantsThe oil market is resilient and will react positively to the attack on Saudi Ara... Does anyone else think that this attack could have been staged to force the US to go to war And the three departments I want to cut are... wait, who am I? Same thing they said about my Grandmother after her 4TH stroke.
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