Oil Refining Stocks Running On Empty

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Trouble Ticket Forum Policy

Return to Index

TFC Commodity Trading Forum

This morning, many of the leading oil refinery stocks are declining lower at the start of the trading session. Phillips 66 (NYSE:PSX) has been a leading oil refinery stock in 2012. At the start of this year, PSX encountered near term selling pressure. Short term traders should watch for intra-day support around the $51.00, and $50.00 levels. The daily chart of PSX is signaling weakness down to the $48.75 level in the near term.

Some other leading oil refinery stocks that are coming under selling pressure today include HollyFrontier Corp (NYSE:HFC), Valero Energy Corporation (NYSE:VLO), and Tesoro Corporation (NYSE:TSO). All of these stocks should have further weakness and possible downside in the near term according to the daily charts.

Trouble Ticket Forum Policy

Return to Index