$COP $COP delivered its first confirmed bearish pivot reversal last week since the spinning top setup we highlighted on July 5 at the 200 EMA. Traders who entered with the signal candle the week of July 5th on confirmation captured roughly a 25% move before price finally showed a meaningful shift in character. Last week’s bearish engulfing candle at horizontal resistance, combined with a close below the prior weeks spinning top candle’s low (visual attached), signals that supply is beginning to overwhelm demand and short-term momentum is shifting toward the bears. Following a run of this magnitude, a deeper retracement or period of consolidation would be technically normal and expected. Rather than chasing, we now watch to see whether price builds a new base or pulls back toward support. If bulls regain control and a constructive consolidation develops, a confirmed breakout with renewed momentum could provide the next potential entry. Join us at https://t.co/piEjMamVVz to learn Japanese candlestick patterns. $XOM $CVX $EOG $OXY $DVN $FANG $HES $APA $MRO $EQT $CNQ $SU