XOP - Oil and Gas went lower as Omicron become risk on again
$SPDR S&P Oil & Gas Exploration & Production ETF(XOP.US$
Since last comment that the price will experience a bounce back up (after the previous sell down), it indeed went as high as >US$100 (notable when Omicron virus is mentioned as a non-event or no prominent risk threat).
As at today, reverse is true as Omicron virus has spread quite extensively… expectation that the impact to tourism/travelling will be impacted… oil price dropped accordingly. This reversal has reached the last expectation of <$90 in 20/12 trading day.
I am still holding my bias view that it will reach below towards $80-85 range before the next review. Let’s see how things developed.
(Should Omicron virus become risk off again, it may give some support back to the $95 level as per my expectation)
Please share your comments and views.
Since last comment that the price will experience a bounce back up (after the previous sell down), it indeed went as high as >US$100 (notable when Omicron virus is mentioned as a non-event or no prominent risk threat).
As at today, reverse is true as Omicron virus has spread quite extensively… expectation that the impact to tourism/travelling will be impacted… oil price dropped accordingly. This reversal has reached the last expectation of <$90 in 20/12 trading day.
I am still holding my bias view that it will reach below towards $80-85 range before the next review. Let’s see how things developed.
(Should Omicron virus become risk off again, it may give some support back to the $95 level as per my expectation)
Please share your comments and views.
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