$OXY
Added 2024-11-22 15:14:26 +0000 UTC$OXY has just pipped its head above the 50 Day MA here at $51.90.
After testing support on the 0.5 Fib at $49 for 4 times since the start of Sept.
We do not have a higher high yet or a hold above the 50 Day MA but what we can confirm is that the market is fully aware of the significance of the $49 support level.
Holding above the 50 Day MA and the next test again will be getting back above the 0.38 Fib at $55 which offered resistance in Sept.
I have a position and my average is around $53, I am happy to hold here until we see more signs of a reversing and then I will consider adding.
Comments
Hey there, is this chart still valid?
Divyam Kaushik
2024-12-16 16:41:00 +0000 UTC
