Falling oil prices & rising crack spreads have been quite beneficial to the refiners although the charts indicate that the ride will likely soon come to an end. TSO (Tesoro Corp) is likely to fall to at least the $66 level, about 30% below current levels, once prices break below this large rising wedge pattern. VLO (Valero Energy Corp), with a nearly identical chart pattern, is also likely to prove a very lucrative swing/trend short trade sometime in 2016, also with a short-entry to be triggered on a weekly close below this long-term rising wedge pattern.

Both may or may not need another thrust back up inside the wedge pattern and as these are weekly charts, it could be a while before these refiners break down but I did want to share the charts for those interested & will try post an update at or shortly before either of these stocks breakdown.