$OXY
Added 2024-01-25 18:18:37 +0000 UTC$OXY bouncing again in the Buffett Buy Zone, price of oil has also started to slowly drift higher too, both are closely correlated and our charts are showing that oil will move higher over the next 12 months too.
Buffett has been relentless buying in this zone over the last 12 months.
There is still a bit of work to do here to get the trend to reverse but the wedge and the $56 level has been holding very well.
Bulls will need to recapture the 200 Day MA at $61 next in order to move this higher.
Comments
Once I see the 200 Day MA recaptured, I think we can transfer this to the Safe Haven collection
Gareth Neary
2024-01-25 21:50:04 +0000 UTCCan be OXY considered safe heaven?
Vojtěch Šimeček
2024-01-25 21:39:00 +0000 UTC
