Possibility for Halliburton to correct

17 February 2022 191
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Halliburton continues the upward movement within the uptrend. Since the middle of December, shares have raised by more than 50% amid the growing oil prices and intensive drilling of new wells by mining companies.

On the chart, “a shooting star” appeared: a reversal pattern. The RSI left down overbought confirming a signal for correction.

Sellers can try to close the gap at the level of 32.6. Then, a test against the uptrend’s line is probable but without a significant decline of oil quotes “bears” are unlikely to seize the initiative for a long time.

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