WTI Crude Oil (December futures contract) reversal higher from its late October lows may still have future upside.
Recent price action on Crude Oil has created a bullish Money Flow Unit (MFU) with $45 being an initial target, followed by an intermediate-term trading target of $50.
My research also shows momentum indicators turning higher once again, confirming the move in price.
The Oil and Gas Exploration Sector (XOP) is one way of play this bullish setup. I think XOP may have 15 percent upside from here.
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
