RBC Capital Markets technical analyst Robert Sluymer says that energy stocks should be bought because the energy sector is showing bottoming.

Sluymer says it’s time to “buy energy stocks” because the sector is oversold and represents “the most attractive risk-reward” profile.

Sluymer sees Brent going to $127 with some resistance at $120.

Energy ETF, XLE, broke out of the sideways pattern and may have an “open air” to $80.