Valero Energy Corp. (VLO) is trading just above resistance level

Valero Energy Corp. (NYSE: VLO) is trading around $20.25, a shade above its 200 days moving average. The VLO faces its next resistance around $23, from where it started showing downward trend in early June.

Valero Energy Corp. (VLO) reported a loss for the third quarter on Tuesday with crude prices rising sharply over the past three months even as the country used less energy and Americans traveled less.

Valero Energy Corp. (VLO) posted a loss of $489 million compared to a $1.2 billion profit, or $2.18 cents a share it posted in same period in 2008.