Most of the leading oil
refinery stocks are declining again today. This important industry group has been very weak since topping out in May 2013
. One of the leading stocks in the sector is Valero Energy Corporation (NYSE:VLO). Today, $VLO is trading lower by 0.39 cents to $34.05 a share. The stock continues to hold near term daily chart
support around this current level, but the better support area
would be around the $31.00 level. The $31.00 area would be an attractive level for the stock to stage a more significant bounce for the oversold condition on the charts.