$XOP Is it just a matter of time before we break out of a 3 month base? pic.twitter.com/Lx2UGyC5Yk
— Sam McCallum ??????? (@honeystocks1) February 7, 2022
Today’s Chart of the Day was shared by Sam McCallum (@honeystocks1). It’s a daily candlestick chart of the Oil & Gas Exploration & Production ETF ($XOP). This is one of the more important energy-related ETFs out there. Sam points out that $XOP is attempting to break out of a three-month base with resistance around $112. If $XOP breaks out here, it would be the latest bullish development for the Energy sector.