WPP reversed off a resistance from way back on 2nd May 2000 today at 1120p, but has so far bounced off the last breakout point despite the multiple bearish RSI divergence and the rare bearish OBV divergence.For me this would be a long if it clears yesterday's high of 1124p or a possible short if it goes below that breakout point of 1096p Original link...

Tethys Petroleum is in a nice consolidation pattern which will remain bullish down to the 61.8% Fib at around 38p.The pattern up from the 24.75p low to the 59p high looks to have completed a 5 wave move suggesting that this is the first rise in a longer uptrend. The drop to, and bounce off, the 38.2% Fib at 45.75p could be a textbook wave A and also suggests a move towards the 61.8% Fib.Downtrend resistance sits at 56.5p today (falling daily) and there's the obvious 59p resistance too. Supports are at 49p, 45.75p, 42.5p and 37.75p. I'll be looking to go long in that 37.75-42.5 Original link...

Has Petropavlovsk finally found a bottom?Well, we can't be certain but there are supports from back in early 2003 at the 117.75p and 123p levels and POG has formed a hammer at these with the possibility of a big RSI bullish divergence if it does bounce from here.The safest strategy would be to wait for a 123-low breakout ie when the SP breaks to a new high after an initial bounce followed by a higher low. This will take several days to play out if it does occur. For those with a higher risk tolerance, it may be worth going long with a stop below the low of today's hammer of 116p.Beware though. This downtrend has been enormous and there are actually gaps at 111p and 107.5p from late 2002 though all these supports are so old they may be a lit Original link...

This tested the short term downtrend yesterday before dropping to test the 123p support half way down the hammer (this is quite common). It's now trying again to break out of this resistance. I'm looking for a close above 135p (yesterday's high) to signal a possible attempt at the next price resistance at 154p.What we'll then be looking for is a higher low (above the 116p one from a few days ago) and then a 123-low breakout. Plenty of time before we get that far though. Trendline break and 135p to get through first. Looks OK so far though. Original link...

MKS is very close to the 432p level now. You can see that level's importance on this weekly chart:The ascending triangle target on a breakout would be 672p where there is natural resistance. Obviously it would take ages to get there and there's the gap at 518p to deal with but the RSI looks like it's breaking out...I'll wait for a close above 432p and then look to enter long on a backtest of that level. Original link...