- Buoyed by a strong session amid an uptrend, BP is 34 cents away from testing key resistance at $32.14
- Upper Bollinger Band® currently at $32.44
Devon Energy Corp's CCI indicator is above +100. On the other hand, note that Devon Energy's run now faces a challenge at $76.09, which is only 85 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Devon Energy might continue pointing upwards in the short term.
Trend analysis indicates that BP's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. BP is hovering above a known Fibonacci resistance level of $32.13. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $32.44, thereby suggesting that BP is becoming overvalued. Chart analysis indicates BP's recent run now faces a major challenge as concentrated supply is likely found at $32.14 with price action currently 34 cents away.
Overall, while BP has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Despite being in the red so far in the current trading session, Twilio peaked above its 50 day Simple Moving Average around $72.95 — typically an early indicator of a new bullish trend beginning to emerge. Twilio's run now faces a challenge at $71.27, which is only $2.74 away and will be interesting to follow. In contrast, Twilio is currently flirting with an active Fibonacci support level around $70.65. Twilio has formed a "bearish harami” pattern.
Despite suffering losses in today's session, technical analysis is indicating that Twilio will undergo a significant bounce in the immediate term.
Fundamental indicators – United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with 200,000. It previously stood at -1.73 million; data will be released tomorrow at 14:30 UTC.