COP continues to stay in a trend channel. Although it takes a while to bounce between the support and resistance levels, it is consistent. Expect COP to hit the resistance prior to earnings date. It will then decline after earnings and who knows how low it will go. Also anticipate the ups and downs of oil to keep this cyclical. Place your calls and prepare puts!
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!