ElliottwaveForecast
Oct 11, 2:05 AM
$COP — Is the Current Pullback Setting Up the Next Major Energy Breakout?
ConocoPhillips remains positioned within a bullish double-nest Elliott Wave structure from the March 2020 and April 2025 lows. The current weakness is viewed as corrective within that broader advance.
🎯 Key conclusion: once the correction completes, the larger structure favors another impulsive rally, with the
$197–
$270 area remaining the major upside objective.
👀 Why it matters: double-nest structures can precede powerful third-wave acceleration. That means the current pullback could be building the foundation for a much larger move rather than signaling the end of the bullish cycle.
Read the full analysis 👇
https://elliottwave-forecast.com/stock-market/cop-double-nest-from-march-2020-and-april-2025-sets-up-rally-toward-197-270/
#COP #ConocoPhillips #Energy #ElliottWave #Stocks #Trading
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