Is $OXY, oil, still an investment to hold?
Zooming out over years on this monthly chart, you can see OXY has been rangebound after a big price rise. Note price has made a higher high and lower low, and it is trying to stay over the 200sma, so now the question is whether or not the yellow line holds as resistance. White lines mark higher price targets if oil is to become more expensive.
On the weekly chart there is an important strength indicator. RSI(14) tested 50 and moved up, and this week's candle triggered long when price moved over last week's high (signal candle).
On the weekly chart there is an important strength indicator. RSI(14) tested 50 and moved up, and this week's candle triggered long when price moved over last week's high (signal candle).
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