Live monitoring of the Broadening Formation setup on PSX. See where price is heading.
Expanding volatility. Sign of instability.
Traders are watching Phillips 66 (PSX) as price action tightens. The stock is trading at $206.77, down 0.1% on the day. The primary technical feature is a Broadening Formation formation. Volume is average (0.63x avg) with moderate trend strength (54.6). A potential breakout level is identified at $216.08, targeting $268.06 with support near $190.09 (R:R 2.0).
What is your outlook on PSX?