First up the XLE, $78.48 at yesterday's close, indicating up 6 cents in premarket trade:
And now the XOP, $49.22 at the close:
More to come.
Friday, May 29, 2015
Chartology: Oil Stocks Are At A Very Interesting Price Level (XLE; XOP)
The XLE is the ETF for the behemoth integrated oil companies (XOM et al) in the S&P 500. The XOP is the ETF for the smaller Exploration & Production companies.
First up the XLE, $78.48 at yesterday's close, indicating up 6 cents in premarket trade:
Still a ways away from the support line drawn from the December and January lows but below all three moving averages.
And now the XOP, $49.22 at the close:
We've been thinking the folks who jumped into the oil stocks in March were early and now it looks as if we are about to test the hypothesis.
More to come.
First up the XLE, $78.48 at yesterday's close, indicating up 6 cents in premarket trade:
And now the XOP, $49.22 at the close:
More to come.
