Chart of the Day - Monday, February 7th, 2022

By Patrick Dunuwila

February 7, 2022
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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.

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Patrick Dunuwila

Editor, The Chart Report

Patrick Dunuwila is the Co-Founder and Editor of The Chart Report, a popular technical analysis newsletter read by thousands of investors worldwide every day. Patrick is a Chartered Market Technician (CMT) with over a decade of market experience. Prior to launching The Chart Report, he worked as a proprietary trader at Benchmarq Technologies in New York City. He's originally from Syracuse, NY, and currently resides in San Diego, CA.

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