Live monitoring of the Rising Wedge setup on PSX. See where price is heading.
Reversal pattern. Price likely to break downwards.
Bullish continuation if preceding move was up.
Technical analysis of Phillips 66 (PSX) reveals a significant setup. Currently at $174.99, the asset is showing downward momentum (-2.42%). Algorithmically, a Bullish Flag structure has completed. This setup is supported by average volume turnover. A potential breakout level is identified at $184.72, targeting $225.89 with support near $169.46 (R:R 2.7).
What is your outlook on PSX?