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Fed and $XOP - Watching for a broader pivot
I'm giving it about a 65% chance the Fed signals a more dovish stance by month-end, which could push $XOP to challenge the 185 level, especially if crude inventories continue their drawdowns.
2 comments · 2 points
Interesting take on the Fed and XOP. I'm less convinced they'll signal a pivot so soon, but if inventories keep dropping, that could definitely put some upward pressure on the sector regardless.