
Direxion Energy Bull 2X Shares (NYSE:ERX) was trading slightly lower in consolidation on Tuesday, after momentum within an uptrend caused the ETF to rally over 14% between Oct. 19 and Monday.
The energy sector has been enjoying a recent bull cycle, which began on Sept. 26 when Exxon Mobil Corp (NYSE:XOM) bounced up off the 200-day simple moving average and reversed course into an uptrend.