Occidental Petroleum breaches upward trend line - Analysis - 08-12-2022

Occidental Petroleum's stock (OXY) fell in the last session amid negative pressure from the 50-day SMA, with negative signals from the RSI despite reaching oversold levels, while piercing the main upward short-term trend line, doubling negative pressure. 

Therefore we expect more losses for the stock, targeting the pivotal support of 57.43, provided it settles below 66.00.

Expected trend for today: Bearish