$Occidental Petroleum (OXY.US)$This stock has been trending down and broken all supports , does not looking positive in the short to mid term.
1. Depressing oil price due to unfavorable economy forecast around the world esp China
2. Oversupply will be exacerbated with peace deals being hammered out after Trump’s inauguration + more “drill-baby-drill” activities
3. Strong USD rally in short to mid term likely to depress most commodities prices including oil.
It may rebound 5-10% due to negative news such as, Opec’s supply cut decision, terrorist’s hijack etc but overall is still trending down; Sell when rebound…
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