PSX has a nice flag off the March lows, which briefly got it above its long-term trend line from 2015 before immediately giving it back up again. That flag has also now broken into a bearish, downward-sloping channel.
And finally, it trades well below both its 50- and 200-day moving averages. This is a short.
And finally, it trades well below both its 50- and 200-day moving averages. This is a short.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.