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TOPIC: Premier Oil :PMO

Premier Oil :PMO 14 Jan 2013 15:40 #1

  • remo
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Bearish Engulfing pattern right at down trend line.
so possible short with stops above 370



dyor
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Premier Oil :PMO 17 Dec 2012 12:01 #2

  • Jackozy
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Thanks remo. Personally, I think I'd prefer to wait on that and go short either at the downtrend resistance or on a backtest of 321 after a breakdown of that level. I reckon this could go all the way down to its main, long term uptrend which is at 201 today (obviously this will rise before any chance of it going that low). There are some pretty obvious support levels at 302, 266.5 and 246 to aim at too..
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Premier Oil :PMO 17 Dec 2012 11:38 #3

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This is bang on support.
stops could be 2 points away for small risk trade.
I would not place it any further as if this does finish below 321.1 then this could really drop so hense the mega tight stop.This is more of a day trade possibly



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Premier Oil :PMO 11 Dec 2012 10:22 #4

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This is fighting with the main trend line.
Bear points are that the obv has broken through a while ago so signalling weakness.

If you were to go long based on trend line touch then stops have to be below the gap support at 318
One to watch.



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