TradingView
BBTrader29
Dec 17, 2019 1:06 AM

VLO Retest/Round-Up Long

Valero Energy CorporationNYSE

Description

VLO has a very strong setup that has now formed. It has established a retest of the prior $92 level and remounted, making that level now support. It has also formed a rounding bottom pattern where it will look to continue its upward trend toward the 100-101 level. This will act as resistance, so 100-101 is my target. The weekly chart looks bullish to the upside. Pairing the retest and remount with the rounding up pattern is strongly bullish.
More