Valero Energy: double bottom confirmed, but confirmation week was soft

Valero Energy Corporation opens a BUY in week 1 with a solid technical foundation: a daily double bottom in the 223–227 area, all structural moving averages aligned higher, RSI at 65.6, ADX at 45.4. Signal strength is 55 out of 100, in the ordinary range. The confirmation week, however, closed bearish: the desk believes it is appropriate to keep the position unchanged and not add exposure at this stage.