Once XOP Proves support and passes previous resistance worth a 2-3wk call to $20.50-$21. Else XOP will retest support and if the bottom falls see the next support isn't until $18.50 - $18 range. Personal thoughts, is XOP will finally have a couple green days and see XOP test resistance at $20.50-$20.75, however won't be touching until proven pass of previous resistance.
We can see that on that last rise, it could not create a higher high, in which I see a head and shoulders forming. I believe the right shoulder will start to form once it bounces off the 50d SMA.
