Crude oil futures are trading higher and appear to be breaking out. This is providing yet another lift to the energy sector.
Today I am sharing updated charts of WTI Crude Oil (note that it rolled over to the January 2021 contract), and the Oil and Gas Exploration ETF (XOP). I continue to be bullish on Crude Oil, XOP, and select energy stocks.
The bullish flag breakout of the January Crude Oil contract is very bullish. I am also finding many stocks within the energy complex that screen well (inquire via my website).
In addition to XOP and select stocks within the XOP ETF, I think XLE looks bullish.
The author 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.