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OXY Trading in a Support Zone

Written By: ChartChamp

September 26, 2024

Warren Buffett is currently in the red with his large OXY trade. I think the price is trading within a yellow support zone between $47.27 and $52.53. I would monitor for a potential rebound within this zone. OXY has failed to form a bullish breakout above the red resistance line, but if there is a breakout in the near future there could be a lot of upside ahead. For now I would monitor for a rebound in the yellow zone otherwise OXY is at risk of dropping down to the next key support level at the white trendline around $38.10.

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