$OXY
Added 2025-05-05 17:51:08 +0000 UTCIs due to report their earnings on Weds, price is down today as output is expected to increase shortly and concerns that a recession will reduce demand.
The price action has already tested the standard 0.618 Fib at $34.70 and has bounced, so bulls would like to see a higher low now held with this small pull back.
A higher low and the price action can move back up to the channel again above $42.
Until then we can not confirm the start of a new impulse wave.
