Running Low On OXY?
I believe we will be "running low on oxy" over the next few days or weeks.
A head and shoulders pattern was identified on the daily in confluence with 2 rising support trendlines. OXY broke below the neckline of the head and shoulders pattern on Friday, February 3, 2023. Furthermore, the daily chart shows an increase of sellers at the break...
I would like OXY to test the resistance line at $10.10, if it breaks we could potentially see a new low or expect a bounce at the green line.
The oil trade war will only make oil barrel prices drop, currently around $20!
