Keep an eye on oversold oil.

At $67.82, crude is sitting at support dating back to late 2021. It’s also oversold on RSI, MACD, and Williams’ %R. And we expect to see oil come back strong – especially with summer driving season just around the corner.

“Fears surrounding the banking sector witnessed the price of oil spiral south over the course of last week, shedding more than 13.0%, its largest one-week decline in months,” said FX Street.

With most of the fear now priced into oil prices, we’re betting on a pivot in Exxon Mobil (XOM), Chevron (CVX), Occidental Petroleum (XOY), and these ETFs.

SPDR Energy Select Sector ETF (XLE)

With an expense ratio of 0.12%, the XLE ETF provides exposure to companies in the oil, gas and consumable fuel, energy equipment and services industries, as noted by State Street SPDR. Not only does an ETF allow for diversification, you can buy it for less.

SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

With an expense ratio of 0.35%, the ETF provides exposure to the oil and gas exploration and production segment of the S&P TMI, which comprises the following sub-industries: Integrated Oil & Gas, Oil & Gas Exploration & Production, and Oil & Gas Refining & Marketing, as noted by State Street SPDR. Some of its top holdings include Callon Petroleum, SM Energy Company, Devon Energy Corporation, EOG Resources, and ConocoPhillips, for example.

iShares Global Energy ETF (IXC)

The iShares Global Energy ETF seeks to track the investment results of an index composed of global equities in the energy sector. Trading at $27, some of its top holdings include Exxon Mobil, Chevron Corporation, BP PLC, Total SA, and EOG Resources.