Jun. 23 at 4:20 PM
$OXY yesterday’s dragonfly doji right at the 200 EMA is not something you ignore, especially in a market that’s been rotating violently between risk-on and risk-off. It tells you buyers showed up exactly where they needed to.
Today’s session is all about confirmation. Bulls now need a clean close above the doji high to validate a short-term pivot low. Without that, it’s just another reaction off support, not a reversal.
What matters here is psychology at the 200 EMA. Sellers tried to press it lower but lost momentum into the close, while buyers are attempting to reclaim control and build structure from this level.
If we confirm above the doji high, that’s your defined line in the sand for a potential bounce continuation setup. If not, this remains fragile support, not a trend shift.
Let price confirm the story.
