PSX has been in an upward trend since reporting strong Q2 earnings. Over the last week, PSX has been consolidating and begun to form what looks like an ascending triangle pattern. I predict consolidation will continue for the next few days with a break in the near future above the upper horizontal trend line to continue its upward trend.
AMD is in a trading range and finding strong resistance at $17.00. Over the short term, I see AMD receeding to 16.50. If Support is not found at 16.50 and breaks its upward trend it could receed to 16.25 for support.
