Oil & Gas Exploration stocks testing breakout level
Oil & Gas Exploration stocks have been hit hard over the past few years, falling over 50%. Could an opportunity be at hand in this hard-hit sector? Possible!
Below looks at the chart of Oil & Gas Exploration ETF (XOP) over the past few years.
CLICK ON CHART TO ENLARGE
XOP has struggled this year, inside of the falling channel highlighted above. It is testing dual resistance at (1), as momentum of late was low and is attempting to create a series of higher lows.
A breakout at (1), would be bullish for XOP and could attract buyers for this hard-hit sector.
from Kimble Charting Solutions. We strive to produce concise, timely and actionable chart pattern analysis to save people time, improve your decision-making and results
Send us an email if you would like to see sample reports or a trial period to test drive our Premium or Weekly Research
Call us Toll free 877-721-7217 international 714-941-9381