$OXY watch this week for continuation
OXY looking flaggy and peaking above volume resistance, watch for continuation this week.
Conversely, similar to July 6th's action, watch for sellers to step in for a move back down to 27 zone...
My bias is to the upside, especially given oil and natural gas prices , could see a blow out ER in two weeks...
Conversely, similar to July 6th's action, watch for sellers to step in for a move back down to 27 zone...
My bias is to the upside, especially given oil and natural gas prices , could see a blow out ER in two weeks...
Comment:
Out of this trade for small gain. Consolidating now will watch for confirmation of next leg up, or if it's really distribution and we get a break to the downside.