The official targets for the GUSH/XOP short trade have been finalized to T1 at 32.30 & T2 at 31.77. My primary scenario (orange) on the daily chart below has XOP falling to the 31.70 area before a meaningful bounce while the alternative scenario (light blue) has XOP backtesting the primary downtrend line before a meaningful bounce.


Although I prefer to time my entries & exits on GUSH based off the charts of XOP, here are a few support levels which could serve as price targets (BTC orders set slightly above), with the 60.65 support as my preferred target at this time.

GUSH 60-minute May 4th

GUSH 60-minute May 4th