$OXY
Added 2024-05-06 11:08:13 +0000 UTC$OXY reports after the market closes tomorrow too.
It has pulled back in 3 waves since hitting our Wave 3 target and is just holding on the 50 Day MA right now.
I have added a red line from the Top of Wave 1, which is just below the 200 Day MA, so we can say that the 200 Day MA is the last line of defence for $OXY, the price action must hold above this level to validate the impulse wave.
That being said its holding comfortably so far above the 0.5 Fib so I don't see any issues right now, a good earnings tomorrow and we can start to see the move higher for Wave 5 to $73.
Comments
Thoughts on the topping tail candle?
Dan L
2024-05-06 11:57:58 +0000 UTC
