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AwesomeAvani
Aug 28, 2022 12:26 AM

Is OXY topping at resistance ? ( Possible Reversal ) 

Occidental Petroleum CorporationNYSE

Description

OXY has run up quite well, especially with the help of heavy buying from Warren Buffet and his conglomerate.

Is it set up for a downturn?

On the chart, the red horizontal line is the market high pre-Covid.

The MACD a lagging indicator has the K and D lines in early convergence

well above the histogram.

Time will tell but OXY might be pulling back into a better price for buying.

Trade active

OXY as dropped from $74 to $69 consistent with the idea. Put options have paid well. Partial profit was taken off the table.
Comments
AwesomeAvani
OXY dropped from $74 to $69 consistent with the idea. Put options have paid well. Partial profit was taken off the table.
AwesomeAvani
OXY not yet reversed
AwesomeAvani
Another Energy Stock doing quite well----------------------->>>>>
Blakberi
I am a big fan of crude when it's running. You know, Oxy is short for oxycodone, which as you may know is a relatively strong opiate (just an off-topic side note). I hope your trade brings you much monetary gain and psychological pleasure, for lack of a better word - much like the oxy.. 😅 A release of feel good chemicals in your brain and the brains of those who follow a similar trade or investment strategy is what I hope for. God bless you and long live fossil fuels!
AwesomeAvani
@Blakberi, I am very clear on oxycodone since I am a retired physician who among other things did addiction medicine. Fentanyl beats oxy no contest The US is addicted to big oil. As in no matter the US is now the biggest producer it is also the biggest consumer and overwhelms the production. The whole green energy is a slow ramp-up for sure and it will not take over big oil in my lifetime but maybe in the lifetime of my young daughter In the meanwhile. I pull money out of the market unrelentingly and could not care less about social responsibility social awareness and other left-lending concepts. Trade well, trade often.
AwesomeAvani
@Blakberi, see also
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