Great chart, too. I think we actually might go lower first, possibly a double bottom with '99 prices and align with a descending channel trend carried downwards from March lows. This industry has been completely hammered since the beginning of the commodity bust starting in '14-'15, and no matter if you buy in here or lower, the long term prospects and r/r are attractive. I am looking at petro-companies now like how the metallic miners were extremely discounted during '15/'16 from the comedown in precious metal prices starting in '11.
letsgetstacked1975
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@apb270, are you saying you believe OXY will move back into the 40.00 range in 2021? I’m new here and do not completely understand these charts. Thanks for the reply
Chartguru1
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Great chart. Double bottom....energy unloved...BUT THAT WILL CHANGE. Good luck