As shown with XLE, expect rollover to continue. Energy sector cooling off and will present amazing opportunity in the near future. Patience will be key. Will monitor and continue to publish updates as required.
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Shorting XOP via a long DRIP position.
Oversold on the hourly, nearly oversold on daily chart. I realize we are in an uptrend on the bigger time frame.
XOP is at top of channel and losing steam, i hope. Looking for a pullback for a short swing play.
OBV is bouncing on its avg on the daily graph
Green zone on daily and weekly graph
RSI above 50
OIl is bullish
Seems like a safe base... what do you think?
Contrarian trade with everyone screaming to buy Oil Energy and Gas right now.
Chart looks bearish to me and smells like distribution.
Natural Gas ripped yesterday and I took EQT profits and added to XOP JUN puts.
$136 first target
XOP to me needs to cool off after this monster up leg. Starting to smell like distribution with lower highs. A monster breakout is possible, but even being bullish I'd like a dip to $120 zone before the next up leg.
Daily - seeing some bearish divergence on the RSI
Weekly - top of channel rejection (so far) with Bearish MACD cross and momo turning...
XOP looks like it's rolling over, or at the very least consolidating and heading back to sub 130 after rejection from trendline resistance and 30MA .
Whale trade short, bearish divergences on indicators. Price target sub $130
The world order established after WWII is changing before our eyes. Indexes have broken their uptrends. Nasdaq stocks have been crushed. Old commodities are becoming more important to nations than ever before. Security isn't guaranteed.
As investors our goals remain unchanged. Give ourselves and our families the best chance to succeed through financial...
Cup waiting to form handle. With that said I would look for upside to this gas & oil etf until April/May then we should see a dip into the handle into the summer. So in my opinion gas & oil prices rise until the summer and drop until August if this pattern holds true.
CHART LEGEND:
white dashed lines = bull/bear takeovers
blue lines = call targets
yellow lines =...
XOP is the ETF for the energy sector's oil and gas exploration and production sector. Despite the market indices (US) experiencing a high degree of volatility and technical damage, the energy sector has outperformed all other sectors in in 2022 (and late last year).
A cup with handle has formed, which is a bullish consolidation pattern made famous by legendary...
... for a 1.27 debit.
Comments: One of the only setups I didn't have to touch/adjust during all the January gyrations (i.e., no side was tested or approached worthless), but I had to wait on it longer than I would've liked. In for a 2.53 credit (See Post Below); out today at 50% max, 1.26 ($126) profit.
... for a 2.53 credit.
Comments: High 30-day implied at 45.3%. 2.53 credit on buying power effect of 10.55 (on margin). 24.0% ROC at max; 12.0% ROC at 50% max. Will look to take profit at 50% max; manage sides on approaching worthless/side test.
Trade on S&P ETF for US Crude
Opened the LNG in OCT as price was testing
the HLof the Longterm (M) Uptrend.
My STP-Loss was below the red line around 70
Price rallied for 11 weeks till it reached Resistance (top red line) I closed 1/2 the LNG to take
in Profit & control Greed.
Today as price broke the 102 Mark. I closed the other 1/2 of LNG
