Canadian Natural (CNQ:TSX) candlestick chart

Intermediate trend is down for Canadian Natural Resources
There was a bullish candlestick on July 17 but the intermediate trend is still down. CNQ will meet resistance at $28.00

CNQ 6 Month Daily Chart

There was a bullish candlestick on July 17 but the intermediate trend is still down. There must be a confirmed breakout above the downward sloping trendline for the near-term uptrend to continue. CNQ will first meet resistance in the $28.00 to $28.50 price zone. A breakout above the trendline will see CNQ meet resistance at the June high of $29.00 and major resistance on the weekly chart in the $30.00 price zone.

Reference the last chart analysis for Canadian Natural Resources.

Reference the corporate website for CNQ.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

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