Spot Oil on 30-minute chart had a slow rise in the past 24 hours followed by a pause and then a
jump on the Israeli retaliation strikes into Iran. Middle East oil shipping in the Red Sea and
Persian Gulf are at risk and shipping insurance for ongoing shipments is likely to experience
heavy rate increases if shipping does occur. Houthi rebels may resume proxy...
On the 4H OXY is in a long up trend in part supported by the buy of Mr. Buffett
In the intermediate term as shown on the chart, it is in a slowly rising parallel channel
while at present it is at the bottom of the channel sitting on the POC of the long term
volume profile and near to the lower Bollinger Band. I see this as a buy low sell high
opportunity, The...
NYSE:OXY
OXY has market momentum with the ongoing Buffet buying frenzy.
It has been in a pattern since the spring 2022 Buffet buying that is a flat bottom
triangle. The latest buying seems to be resulting in
a breakout from the triangle yet without retest.
Rising relative strength on the RSI serves to validate the move.
Buffet seems to know that the...
