Bullish Reversal In Oil and Gas Exploration Stocks?

I like the pullback in WTI Crude Oil and believe a reversal higher is setting up the Oil & Gas Exploration Sector (XOP) and stocks quite nicely.

As you can see in the chart below, XOP reversed higher and triggered a buy signal.

As well, the stochastics are turning up.

This looks like a tradable setup with the potential of rising as high as $95. That said, a trailing stop is important to use here in this market environment.

$XOP – Oil & Gas Exploration ETF Stock Chart

oil and gas sector etf xop buy signal trading indicator bullish week march 26

The author or his firm may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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