Occidental Petroleum Corp (US: OXY) price action indicate a potential upside after rebounding successfully from the bottom of the range:
- The successful breakout of the Head and shoulder was confirmed by yesterday’s bullish candle above the neckline resistance at US$27.63.
- Furthermore, prices has successfully breakout the falling wedge formation.
- 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
