Chart Talk: Equal Weight Energy ETF is poised for a retracement according to RSI

Yellow gas pipeline valve on a blue wall.

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  • According to the relative strength index indicator, the Invesco S&P 500 Equal Weight Energy ETF (NYSEARCA:RYE) is in overbought territory. On a YTD chart, RYE has an RSI of 74.94, which is north of the standard 70 overbought

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