After trading up strongly in late February, OXY went into consolidation for the past 6 weeks, forming a right angle wedge. It is now looking like a breakout to the upside is near.
If and when it does start closing above 62.50, i will be looking at targets of around 72 (wedge breakup target) to 77 (a prior high way back in June 2018).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
A lot of eyes on OXY right now. Wouldn't be surprised if we see a serious stop hunt before it moves to your target. Good looking chart, good potential setup. Thank you for your work.