Technical Pulse: Occidental Petroleum Corp September 16, 2021 382

 

Occidental Petroleum Corp (US: OXY) price action indicate a potential upside after rebounding successfully from the bottom of the range:

 

  1. The successful breakout of the Head and shoulder was confirmed by yesterday’s bullish candle above the neckline resistance at US$27.63.
  2. Furthermore, prices has successfully breakout the falling wedge formation.
  3. Back to the candlestick pattern, yesterday’s candle successfully close above the 63-periods moving average, indicating a possible bullish sustainance.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA

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