After bottoming in early June, Valero Energy (VLO) battled back to the downtrend line before breaking higher. Notice the current flag pattern – a break above the upper channel of the flag would be bullish and likely target $25.
Note that $22.32 is the .382 fibonacci retrace of the recent move higher and important support.
Valero Energy (VLO) annotated daily chart with technical analysis overlay as of June 26, 2012. Â Price support and resistance levels with Fibonacci retrace levels. Â Oil and gas refining. Energy Sector. Valero Energy stock ticker VLO.
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