Market Analysis for Feb 3rd, 2021

OXY (Occidental Petroleum)-- has a near term chart structure that argues its correction from the 1/14 rally high at 24.60 ended at 19.46 last Wed., and since, the stock has turned up into a new upleg that will make a run at 24.60, and if (when) taken out, will project next to 27-29, in route to 36-39. As long as any forthcoming weakness is contained above the up-sloping 50 DMA, now at 18.93, OXY will remain in strong technical condition... Last is 21.76/77

2 03 OXY Daily GIF
2 03 OXY Daily GIF

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