XOP - Headed towards the top of a massive wedge. PT $38.50

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SPDR S&P Oil & Gas Explor & Product (AMEX:XOP)

AMEX:XOP SPDR S&P Oil & Gas Explor & Product

fibonacci wedgepattern supplyanddemand xop crude crudeoil crudeoillong bullish

XOP appears to be looking to re-test the top of a massive wedge. Looking for contact around $38.50. Crude prices are providing a massive tailwind, I think we see $60 crude by December and $XOP will follow to the upside.

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