jangseohee
Short

Swing trade based on Moving Average

AMEX:XOP   SPDR S&P OIL & GAS EXPLOR & PRODUCT
124 0 2
2 days ago, when price was rejected by downslope of 20 EMA , my short position at 74.5 was triggered. Stop loss at 75.4 where there was a minor resistance.
Seems like a variant evening started at 200EMA level but price closed below 200EMA with increasing volume .
Profit target will be 70 which coincide again with the S/R zone between Mar-Apr
This SPDR S&P             Oil             & Gas ETF is reflected in the movement of stocks like XOM             , CVX             , etc
And it is a BIG head & shoulder pattern from april until yesterday!
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