Targets calculated using the depth and fib levels which are projected from break out level/Long entry level of the cup which is a tad over the left side of the cup's high to clear resistance.
The 50 is trying to cross up through the 200 which is known by some as a golden cross. There appears to be a battle going on with some old resistance. Long top wicks can point out areas of resistance and long bottom shadows can point to support. These levels were made to be broken of a security would be ranging all of the time.
No recommendation.
Good to have a plan if things go right and if things go wrong. Looking in the rear view mirror can save you from getting a ticket (o:
LauraLea, as you know.. I've bought a substantial tranche of Exxon shares following last winter's Texas debacle. These shares are crying out for your analysis. Timing is everything... THANKS FOR YOUR ASTUTE INSIGHT. Douglas
@Clarkbar2, Energy is up for sure. I will look at a few like XOM and VLO etc. I own EOG XOM VLO OKE Is there one in particular you want me to post? Thx
lauralea
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@Clarkbar2, XOM has a weekly cup but is not to long entry level. If it makes it, it could go far. Has broken long entry level for a daily cup and handle. Was in a rising wedge on hourly but broke bottom trendline and seems to have recovered with little time below bottom trendline of rising wedge. Just keep eye out for narrowing channels but XOM looks good. As we know oil is volatile!