Mar. 8 at 3:17 AM
$EOG is attacking a 4-year resistance wall right now.
Weeks of accumulating buy volume. Price grinding higher on every MA. RSI building momentum. And today — price is AT the wall at
$131–134.
Flow confirming the breakout attempt:
$327K call block at
$130,
$75.5K sweep at
$133. Someone positioned for this wall to break.
This isn't a panic buy into resistance. This is weeks of deliberate accumulation leading to a test of the most significant level on the chart.
Bull case: weekly close above
$134 → 4-year breakout →
$141 →
$153 →
$165+. Energy names with momentum in a volatile market.
Bear case: wall holds again,
$123–122 support retest. Pattern repeats.
Four years of overhead supply about to be resolved one way or the other.
This week's close is everything.
#EOG #energy #hovdid