May 21, 2019

Occidental Petroleum (OXY)

Occidental Petroleum (OXY) looks to be crafting a long consolidation pattern which should be nearing completion.  In the shorter term it is possible that OXY might drop into the noted gray circle area but as long as it remains above the 200 day SMA and the higher uptrend line I will remain positive on the name.

OXY should look to target much higher on a break first looking to fill the upside gap and then possibly challenge the 2012 highs.

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