$OXY
Added 2023-04-24 16:20:49 +0000 UTCSo this is a good opportunity to watch how a level is acting as support.
On the 1hr chart here, the yellow line is the 200 Day MA and for long term holders, the 50 Day and 200 Day MA is what we watch for most, these are trend lines.
We can see here that the price action hit the 200 Day MA a number of times and did not go below it, it bounced, came back to retest it again and held, this is what we would like to see from a support line....it is not always as clear as this but this is a good example.
So it is not a surprise then to see this doing well today while others are struggling, after holding the 200 Day MA so well.
