Integrated Energy Under Early Pressure
This morning, leading integrated energy stocks such as Chevron corp (NYSE:CVX) and Exxon Mobil Corp (NYSE:XOM) are coming under early selling pressure. Short term traders can watch for intra-day support on CVX around the $105.20 level. XOM stock will have intra-day support around the $85.00 area. It is important to note that these energy giants remain very strong on the daily chart, therefore, support levels can usually be bought.