Oil Gap Holding

My oil and gas ETF short, XOP, is holding together quite nicely. The gap I based on the trade on (130.59) held firm, and now I’ve tightened up the stop with a new price gap that was formed today (128.07).

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Image Source: Pixabay
 

My oil and gas ETF short, XOP, is holding together quite nicely. The gap I based on the trade on (130.59) held firm, and now I’ve tightened up the stop with a new price gap that was formed today (128.07).
 


The longer-term chart suggests plenty of downside potential.
 


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