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Energy Stocks Heat Up
Monday 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
(
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
(
CVX
),
ConocoPhillips
(
COP
), and
Hess Corp
(
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.
Nicholas Santiago
InTheMoneyStocks.com
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CONOCOPHILLIPS (
COP
): Free Stock Analysis Report
CHEVRON CORP (
CVX
): Free Stock Analysis Report
HESS CORP (
HES
): Free Stock Analysis Report
EXXON MOBIL CRP (
XOM
): Free Stock Analysis Report
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