RS3175

COP Going Down An Oily Slope

Short
BATS:COP   ConocoPhillips
Strong resistance at 127.

Large A-B-C Corrective Wave under progress.

A wave was Zig-Zag. B wave was a triangle formation.

C wave has started. The sharp uptrend is retest of the resistance at 127.

COP will go down to at least 80, which is the 100 percent projection of Wave A.
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