PSX daily chart shows a topping tail, raising probability of lower prices next week.
BearishHe framed it in weeks
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Verified InvestingPublished Oct 9 · 1 passage
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If we look at PSX here, same sort of deal. I have former lines there we can go over, but there's your daily topping tail. That is a topping tail on the daily chart that raises probability that that PSX is going to head lower next week.
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2026-10-09BearishThis one
If we look at PSX here, same sort of deal. I have former lines there we can go over, but there's your daily topping tail. That is a topping tail on the daily chart that raises probability that that PSX is going to head lower next week.
2026-09-23Bearish
Either way, that's bearish for the names like a Valero. And if we look at Valero, look at the drop that we've seen the last couple days. First of all, look at the extension. I still think there's more downside on Valero. Again, we'll see if it happens today with oil bouncing, but in the near term, I do think Valero, PSX, MPC, they all should come down much, much much more.
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