POG is back at the short term channel support so I'm long again on this but with a tight stop just below the recent low of 128.2p. I have concerns about this trade but the stop position is good so it offers a good risk/reward if it plays out.My concerns are due to it's bear flag appearance (as highlighted by Gary in previous comments) and it's failure to reach the target and hold a 123-low breakout on two occasions. If it breaks down and my stop gets hit I may even reverse position and go short but I'll decide that later. Original link...

There's probably a lot of excitement on the bulletin boards after today with a lot of people calling for upward price movement and a break of 166p from here so I'll start with the 4 hour chart that will be causing that. There's more to add though so this might be a lengthy post.We can clearly see a big hammer candle with bullish divergences apparently forming in RSI, MACD (not quite a proper one) and we also had Gary's chart in the previous comments showing a divergence in MFI (Money Flow Index) and how today's low fits with his harmonics and Fibs.The 147p low was also very close to the 50% Fib of the rise from 126p to 166p which is at 146p some that might add to the idea that the retrace has done enough. There is another view though and it's one I favour. First, the daily chart....

Here's XEL's hourly chart going back to the RSI low which formed the bullish divergence at 88.75p a few days later.We can see that the trendline was confirmed later with a further bounce which pushed the SP up to the 112.5p area forming a bearish divergence (you can see the lower high in RSI at the higher high in price). This bearish divergence resulted in the break of the RSI uptrend, followed by a retest (which actually broke back above, briefly) and a rejection. One obvious aspect of this chart is the big gap up from 92.5p so I'd suggest it's at least likely to fill that. There are a few possibilities here actually which is why I'm staying sidelined. I might be tempted to go long at that gap Original link...

As expected, the rally off the intermediate trendline support failed and today the price has dropped below it (see previous post suggesting this may happen).A critical level is now not far away for BLVN. The main uptrend support from the Dec 2008 low of 20p sits at 61.8p today (rising slightly daily) and there is also price support at 62p and 63p from previous bounces. It will be very important for this level to hold as it's the main uptrend and has provided those recent bounces. You can see its importance on the weekly chart below: I'll be going long here with a tight stop. You can just see on the left side of the weekly chart that there's not a lot to stop this getting to 55p if 62p fails hence the tight stop. Original link...

Ophir Energy is currently trading near an area of multiple supports. There's a price support at 359p from Feb 2012, the gap at 366p from the same day and the down channel support all converging in the 359p area.Note also that the RSI is nearing its support trendline which adds further weight to the strength of this area. It could be worth going long at 357/8p (the channel support) with tight stops.If this level goes then the next supports are 330p and 290p but a breakdown of the channel would not be healthy without a swift re-entry (there can sometimes be false breakouts). The 412/4 level is the key one to break to the upside but we need to see a higher low first. Original link...