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- 1/23/2026 -
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SPDR Oil & Gas Exploration & Production (XOP) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :Williams' Percentage Range is overbought
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It was a second consecutive positive week for the SPDR Oil & Gas Exploration & Production (XOP). During the week, the XOP gained 4.93 points, or 3.78%, and closed at 135.22 on Friday, January 23, 2026. It was the best weekly gain since September 26, 2025. Weekly volume was 30% above average.

Long-term trend: [See XOP long-term trend chart]
A long-term downtrend had started on June 8, 2022 at 170.62 and reached 99.00 on April 9, 2025. XOP lost 71.62 points, or 41.98%, in 148 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 94.76 and resistance is at 155.68. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See XOP medium-term trend chart]
A medium-term downtrend had started on December 5, 2025 at 139.48 and reached 123.16 on January 7, 2026. XOP lost 16.32 points, or 11.70%, in 4 weeks. The price is now at the 73.90% retracement level.

Weekly Technical Indicators: [See XOP weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since December 19, 2025. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See XOP short-term trend chart]
A short-term uptrend had started on January 15, 2026 at 128.51 and reached 138.27 on January 23, 2026. XOP gained -9.76 points, or -7.59%, in 8 days. The price is now at the 31.25% retracement level.

Daily Technical Indicators: [See XOP daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since January 7, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.64
Williams' Percentage Range (W%R) 10.40
Overbought
Lane's Stochastic (%D-Slow) 74.73
Greed/Fear Indicator (GFI) 75.99
Moving Average Converg./Diverg. (MACD) 0.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.64
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 31.82
Greed/Fear Indicator (GFI) 56.45
Moving Average Converg./Diverg. (MACD) 0.41
Trading Signals
Description Value Chart
Yearly Trendline Resistance 155.68
Upper Bollinger Band 136.58
Daily Stochastic Crossing 135.99
Price 135.22
50 Day Moving Average 130.45
20 Day Moving Average 128.84
Weekly Stochastic Crossing 128.79
Parabolic System 127.75
Lower Bollinger Band 123.92
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 128.51
Low Date 01/15/2026
High 138.27
High Date 01/23/2026
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 123.16
Low Date 01/07/2026
High 138.27
High Date 01/23/2026
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 139.48
High Date 12/05/2025
Low 123.16
Low Date 01/07/2026
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 99.00
Low Date 04/09/2025
High 139.48
High Date 12/05/2025
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 155.68
Support 94.76
High 170.62
High Date 06/08/2022
Low 99.00
Low Date 04/09/2025
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.