$XLE | Energy on the Profit Block - XLE 75 Pivot "Crowded positions are vulnerable to profit taking and future redemptions which places Energy (XLE proxy) under the spotlight. XLE below the 75 pivot would be bearish." - Thomas Schroeder (Chart Partners) Key Points: * Crowded positions are vulnerable to profit taking and future redemptions which places Energy (XLE proxy) under the spotlight. XLE below the 75 pivot would be bearish. * Energy equity instruments are the preferred hedge to underlying long exposure with WTI likely to outperform energy shares in a down draft. * WTI 105 and 95 break points in focus with C wave risk to 89/85.