XOP (Oil & Gas Exploration & Production ETF) offers an objective long entry on today’s breakout above this 60-minute bullish falling wedge pattern with the stock recently reversing off support on the daily time frame.


The suggested stop is any move below 28.65 with a suggested beta-adjusted position size of 1.0. The first price target is 30.94 & a second price target at 32.62. A third target may be added around the 33.60 resistance level depending on how the charts of both XOP & crude oil develop going forward.