quick snippet – mind yer eye in Xcite today – looks like some news is due with the early price action

Here’s the 10 day chart for XEL. Where volume goes, price invariably does…

We have a clear breakout on the chart from the long down trend in place since February and the technicals indicate a move to 120p. Our fellow blogger Contrarian Investor UK has opined on possible reasons in his blogs this week. Ours is not to reason why but follow the money, particularly when the fundamentals underpin the story.

We have an update on our Oil Explorers Dream portfolio which includes XEL in the latest edition of our magazine which is due out Friday – to ensure you don’t miss out, subscribe easily on the top right of this blog.