ConocoPhillips: 8 weeks into the decline, the rebound tests the structure

ConocoPhillips is in week 8 of a sell signal, with the position in slight loss. The decline produced a double bottom in the 113 area with a 12% rebound, and the latest week closed nearly flat. The quality band flags trading as not recommended. The confirmation week closed bullish: discipline points toward exiting the short position.