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Thursday, January 02, 2025 10:39:47 AM
By: Peter DiCarlo | January 2, 2025
• $OXY remains in a strong downtrend, with lower highs and lower lows. However, there's increasing buying pressure evident on the BX.
Should the price break above this trend line and the BX continue to make higher highs, staying green, this might signal the beginning of a multi-month rally back up to $60.
We're still waiting for confirmation, so it's important to monitor this closely. This potential breakout could coincide with ongoing sell-offs in the S&P 500.
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