The Refiners Are Bear Flaggin’

The refiners had a long over due monster rally that started back at the end of 2012.  Stocks like $VLO, $PSX, $TSO, and $WNR became real momentum names. Most of them almost doubled over that time frame.

These names are now rolling over as profits get booked. Off to the charts.

$VLO is working on its third bear flag and the initial target is around the 39 level which i aLso the gap fill on the daily chart.

$PSX A glaring bear flag with targets of 60 then 55

$TSO has broken siupport and is also in a bear flag. 50 then 45 are possible downside targets.

$WNR had a head and shoulder pattern that broke its neckline and is now working a bear flag. Looks like the 200 day moving average could be up next.

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