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CVX

Chevron Redux - Price Line Test AheadChevron MONTHLY Linear Scale This 30 year price line has been breached 4 times since it's origin in 1992. Each time there has been a subsequent sharp reversal greater than 40%. Earlier this summer there was a breach that resulted in a sharp and dramatic sell off. Thatwas a fantastic no brainer trade. As you can see we are approaching this level again. Short Set-up.....Wait for confirmation. I can't imagine it will be as straight forward as it was in June. Will this pattern repeat... Does it pierce the line again or fail below it? Or..."Is it different this time"
NYSE:CVXShort
by oliverrathbun
2
OXY Buy the Dip LONGOn the 4H OXY is in a long up trend in part supported by the buy of Mr. Buffett In the intermediate term as shown on the chart, it is in a slowly rising parallel channel while at present it is at the bottom of the channel sitting on the POC of the long term volume profile and near to the lower Bollinger Band. I see this as a buy low sell high opportunity, The is confirmed with the MACD a lagging indicator with the lines below the histogram and not yet crossing over. Spot oil may be at a pivot point and OXY is setting up long.
NYSE:OXYLong
by AwesomeAvani
OXY SHORT after bouncing down from All Time ResistanceOXY as shown on the chart is still in a megaphone pattern. Horizontal resistance red line is the all time highs of Spring 2018. In the past several trading sessions, spot oil has dropped from $96 to $87. The MACD indicator which is lagging shows the K / D cross over the histogram. Accordingly, OXY is now trending downward to the mid-Fibonacci retracement levels and the confluence of the mid-line of the megaphone pattern. This appears to be a safe short trade setup especially now that the buying pressure of Mr. Buffet has subsided.
NYSE:OXYShort
by AwesomeAvani
1
VET is pumping profits LONGVET like OXY is showing a great chart with consistent price action. Fundamentally, it has had great earnings reports in the past year. It rates an 8/8 on the Minervini Trend scale showing strength and duration of trend as very high. Vermillon Energy has been strong in the general market downturn. I see this as a Swing long setup with a good expectant reward for the risk assumed. I am considering the call strike $30 option for September 16th.
NYSE:VETLong
by AwesomeAvani
2
OXY Sellers Fall Down ( Flat Bottom Triangle Breakout) LONGNYSE:OXY One hour chart: NYSE:OXY In the past day, the relative volume of sellers has decreased and price momentum is gradually increasing despite the general market reaction to federal economic news. The flat bottom triangle breakout suggests sellers are capitulating on pricing given current circumstances. The RSI Oscillator is in a mid-range suggesting more upside. I see a long setup with call otpions 2 weeks expiration strike $85.
NYSE:OXYLong
by AwesomeAvani
OXY Early Breakout from FLAT BOTTOM TRIANGENYSE:OXY OXY has market momentum with the ongoing Buffet buying frenzy. It has been in a pattern since the spring 2022 Buffet buying that is a flat bottom triangle. The latest buying seems to be resulting in a breakout from the triangle yet without retest. Rising relative strength on the RSI serves to validate the move. Buffet seems to know that the current inflation is a headwind for growth for the alternative energy sector while Big Oil is drowning in cash and buying back stock relentlessly. A ll in all , OXY IS A STONG BUY even if spot oil and futures prices are drifting lower. if the retest fails and OXY returns to the triangle in conjunction with oil prices decreasing and the general market sideways, I will take some put options for a few months.
NYSE:OXYLong
by AwesomeAvani
1