DerekD_

$COP - Treacherous

Short
DerekD_ Updated   
NYSE:COP   ConocoPhillips
Really, really, not liking it. Surprisingly, daily chart @ first glance caught me off guard - thought it was either super dumb bullish or just too bullish to sustain itself. I'd much rather jump on a trade that's 100% to me, but since I was thrown off @ first, I definitely won't throw out the possibility of more upside towards $75. Bearish point of view - I'd rather keep it @ this level @ let the exhaustion of testing resistance bring the trend down. From a bullish perspective, break of $75 would highly contradict the correlation of balance between the MA's. From a personal perspective, charts tend to be pretty honest, so $66 shouldn't be too far off at all.
Comment:
I swear it's only the times I do intra-day scanning do I realize like "Oh well this one finally worked out lemme go see how accurate" lmao
Trade closed: stop reached

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