NYSE:OXY had a breakout bar today to finish a cup and handle pattern right on top of the 200 EMA.
Black Gold finally broke out from the 3 month cup handle pattern as mentioned last week! Although weekly chart was showing bearish, it was a bullish flag because the lows never broke. This week the momentum continues upward possibly in a big way. Extremely Bullish! Once it breaks 56.75, 59 will be the next target. XOM, SLB, NOV are yummy plays.
It appears that Oil is in a wave 4 consolidation with wave 5 coming next. In commodities, the fifth wave is often the longest and most explosive. Short of moving into the futures markets, I'm curious as to what the best stock to play for a move to 100+ in oil. The chart below indicates that Chevron has best kept up with the price of oil with Exxon/Mobil...
OXY is a Solana based project that launched recently. Price has just confirmed bullish market structure on the 4hr on bullish MACD Divergence in the reload Zone. Still below trendline resistance, this one one we'll be looking at closely on any dips that follow with invalidation at lows
Cup & handle formation? also holding nice above moving averages
The chart speaks for it's self. The solana eco-system is turning on the jets. Up is all i've ever known.
OXY is finishing accumulation. It should repeat the pattern that SOL and SRM already did. $4 then $8 as product is being released as we speak.
Would see really nice boost only if it breaks the downtrend
Not only is the current channel testing well but we could see a large gap up very soon. Like and Follow for more! Thanks
Also set some Buy orders near the Trendline Remember no more than 5% of the deposit in one trade SL: next sell signal
2.85 $OXY looks like $SUSHI at 67 cents. GG if starts closing above 3.3
liking oxy a lot if it can hold this reclaim (and then inflect/ hh pullback go)
NYSE:OXY OXY OPTIONS after bearish engulfing