$OXY
Added 2024-04-08 14:39:14 +0000 UTCSmall pull back today to the 20 MA on the 1hr chart after hitting the 2 Fib and rejected, which is extended for a Wave 3....as we always aim to see a rejection at the 1.618 Fib but momentum has been with oil price over the last week.
So we want to see a pull back to the 0.38 Fib now to $64 for Wave 4....interesting to see that the 0.5 Fib is at the breakout level of the wedge too.
The 200 MA on the 1hr chart is in between both of these Fib levels too, so this whole area between $64 and $62 is a confluence level now.
A pull back and hold here and we have another buy signal.
