Energy Stocks Heat Up – XOM, CVX, COP, HES

This morning, the leading energy stocks are catching a bid higher. The catalyst for the stronger energy market is once again the declining U.S. Dollar from the opening bell. Most of the leading energy stocks will inflate and trade higher when the U.S. Dollar Index declines during the trading session.

The most important energy stock in the stock market is Exxon Mobil Corp (NYSE:XOM). This stock is trading higher by 0.21 cents to $86.94 a share. Short term traders can watch for intra-day resistance around the $87.25 level. Should this leading energy stock decline lower from its current price there will be intra-day support around the $86.30 level.

Some other leading energy stocks that are trading higher this morning include Chevron Corp (NYSE:CVX), ConocoPhillips (NYSE:COP), and Hess Corp (NYSE:HES). All of these stocks should remain strong as long as the U.S. Dollar Index fades or declines throughout the day. Should the U.S. Dollar Index trade higher these leading energy stocks will likely pullback intra-day.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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