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Pioneer, EOG, Transocean Have Energy Sector's 3 Best Charts By Ed Ponsi | Oct 19, 2015 | 05:09 PM EDT

There have been sporadic calls this year from analysts suggesting that the time is right to buy oil stocks. Unfortunately, some of those calls have been early. Despite a recent upturn, the Energy Select Sector SPDR ETF (XLE) , which provides a broad representation of the energy sector, is down 12.54% year to date.

However, the technicals are now looking quite favorable for energy stocks. The sector is on the move, and now it's formed a pattern that indicates the rally is far from over.

West Texas Intermediate crude oil remains trapped between $44 and $50, where it has been lodged since late August. While oil itself isn't tempting at the moment, oil stocks are looking downright sporty. Stocks are more than just investments; they can be predictive instruments. As such, energy stocks shouldn't necessarily mirror the performance of the underlying commodity.

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