$XOP Trend Turns Bearish

XOP Oil & Gas Production long term down trend was confirmed on 06-12-2020. This technical analysis was conducted using Swing•Genie Cycles on a 2-day chart.

Price is currently under several down gaps (red fill), Fibonacci 0.5, and 200 SMA (blue falling line), which will act as resistance to price moving higher. Support is provided by Fibonacci 0.382, Volume Point of Consolidation (VPOC) at 53.34, 50 SMA (red rising line), and an up gap (green fill).

All trend changes on the chart are confirmed unless indicated otherwise. It typically takes between 1 and 10 days from the time the indicator prints a dot on the chart for the trend to demonstrably change. A green dot is a bullish signal, a red dot is a bearish signal. Swing trades using this system typically last 2 to 6 weeks.

Swing•Genie provides novice traders the same abilities as experienced and professional traders - the first time they use it! These professional trading skills often take years for traders to develop. Swing•Genie quickly and accurately analyze stock charts even providing signals that anticipate where that stock will go next, with a very high level of confidence. I have no financial interest in Swing•Genie. I just think it's the best indicator on the planet.


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