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Dec 19, 2018 9:09 AM

COP Approaching Support, Potential Bounce! Long

ConocoPhillipsNYSE

Description

COP is testing its support at 61.25 (100% Fibonacci extension, 61.8%, 50% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 68.34 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching support at 4.55% where a corresponding bounce could occur.
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