$VLO - it's time for a retracement and form a new HL

Valero Energy Corporation (BATS:VLO)

BATS:VLO Valero Energy Corporation

Supply and Demand Fibonacci Support and Resistance

supplyanddemand fibonacci supportandresistance

VLO

The daily candles of the past 4 days show weakness and rejection.

XLE - at a major supply zone too.

I'd expect a retracement of either:
▹ 0.382 Fib at 159 ➳ new HL.
or
▹ 0.618 Fib at 151.

Daily chart:

snapshot

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