The S&P® Oil & Gas Exploration & Production ETF $XOP (XOP) Long and Bullish, has been consolidating since the high on June 25th, now looks to be gaining strength again, as the price of crude oil apparently is headed higher.
Today, before the close at $99.23, there is resistance from last week at $100.07.
The XOP oil and gas stock ETF relative strength is trading 7.8% above the S&P 500 index over a 50 day moving average, and 28% over the S&P 500 Index over a 200 day moving average.
Trendanomics 