Is OXY topping at resistance ? ( Possible Reversal )

OXY has run up quite well, especially with the help of heavy buying from Warren Buffet and his conglomerate.

Is it set up for a downturn?

On the chart, the red horizontal line is the market high pre-Covid.

The MACD a lagging indicator has the K and D lines in early convergence

well above the histogram.

Time will tell but OXY might be pulling back into a better price for buying.

تم فتح الصفقة:

OXY as dropped from $74 to $69 consistent with the idea. Put options have paid well. Partial profit was taken off the table.