$OXY
Added 2024-10-07 09:58:52 +0000 UTC$OXY is moving higher in the PM as Oil prices move higher too.
We can see that the PM price has gone back above the 0.38 Fib too at $56, which was a support line since the start of 2023 and at the lower range of where Buffett was accumulating.
We may have gotten a very solid bargain last week when we added at $52.
Price is also above the 50 Day MA now too, what I'd like to see next is converting $56 to a solid support level and then a move up to the 200 Day MA over the next few weeks at $60.....staying above this level and we have a trend change in favour of the bulls.
Comments
56 folded like a pack of cards. Looking like back down to 52 for now.
Martin Robertson
2024-10-08 09:04:38 +0000 UTC
