ConocoPhillips stock price (COP) skidded in latest intraday trading, amid the dominance of the main downward trend in the medium term, as the price trades alongside the short-term secondary trend line, with negative pressure from the Stochastic despite reaching overbought levels, coupled with ongoing negative pressure due to trading below the 50-day SMA.

Therefore we expect more losses for the price, targeting the pivotal support of $79.90, as long as the resistance of $92.65 holds on.

Todays price forecast: Bearish

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