CFDTradingo
Short

Valero Corrective With a Sell Setup

NYSE:VLO   VALERO ENERGY CORP NEW
We have been watching the us energy stocks. This stock is different as most of the others have been in a corrective structure since the start of the year, following oil             . As you can see from the chart VLO             has been falling since the end of March.

As with the others it is still in a corrective structure right now (though only since July) so it makes a good candidate to watch for some more down.

We will wait for it to break down through the lower trend line and then watch on a lower time frame for a retest and rejection or conslidation before shorting
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