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Energy Names (XOP) Turns Up Strongly In Aftermath of the Trump "Upset"


Wednesday November 9th, 2016
Energy Names (XOP) Turns Up Strongly In Aftermath of the Trump "Upset"
by Mike Paulenoff www.MPTrader.com

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) hit a near-term corrective low at 34.13, and this morning, in reaction to perceived stronger, less-regulated Trump energy policies, the price structure has thrust back above its up-sloping 200-Day EMA, now at 35.69, into what my pattern and momentum work indicates is the initiation of a new upleg-- that should quickly climb to retest 16-month resistance at 38.50-39.50.

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