OXY Likes OPEC+ Playing Nice, Clear Cup & Handle Forming

Oil recently hit a monthly resistance dip and gave us a good buying opportunity on some tickers including OXY. OXY recently got de-delisted from the S&P 100 but is showing resilience in one of the hardest hit industries during this pandemic. It has also been getting accumulated pretty heavily as of recent.

If OPEC+ keeps playing nice, OXY is primed for a run to $24 in the mid term between February-March.

Comment:

Closed call positions for +150%, on to the next.