Energy Stocks Continue To Climb

This morning, the leading energy stocks continue to lead the major stock indexes higher. Exxon Mobil Corp (NYSE:XOM) is considered the leading energy stock in the market. XOM has the second largest market capitalization behind Apple Inc (NASDAQ:AAPL) at $407 billion. The stock is also a major component of the Dow Jones Industrial Average and the S&P 500 Index. Today, XOM stock is trading higher by 0.49 cents to $88.20 a share. Short term traders can watch for intra-day resistance around the $88.60, and $89.00 levels. The daily chart of XOM stock remains in a confirmed uptrend as price is trading above the important 50, and 200-day moving averages.

Some other leading energy stocks that are trading higher today include Chevron Corporation (NYSE:CVX), ConocoPhillips (NYSE:COP), and BP plc (ADR) (NYSE:BP). All of these stocks will generally trade higher intra-day if the U.S. Dollar Index pulls back. Energy stocks like most commodities will trade inverse to the U.S. Dollar Index.

About Nicholas Santiago 575 Articles


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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