$OXY is also in a position now where it is testing its 50 Day MA from below after regaining the 200 Day MA after bouncing on the wedge trend line and the 0.78 Fib.
We believe this pull back is Subwave 2 of Wave 5 and we could be into Subwave 3 now if $OXY can hold above its 50 Day MA and the price of oil starts slowing moving higher.
$OXY is in a good position here and I suspect Buffett would continue buying if there are any dips here too.
Jedi
2024-06-29 01:18:09 +0000 UTC