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 down
Monthly - we're at the 2015 resistance line and an RSI approaching over bought territory
4HR - bearish divergence in MOMO and lower highs with MA turning down
I'm just not a buyer here, started a short position will add upon further confirmation JUN 130P
Cheers !
Daily - seeing some bearish divergence on the RSI
Weekly - top of channel rejection (so far) with Bearish MACD cross and momo turning down
Monthly - we're at the 2015 resistance line and an RSI approaching over bought territory
4HR - bearish divergence in MOMO and lower highs with MA turning down
I'm just not a buyer here, started a short position will add upon further confirmation JUN 130P
Cheers !