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TLW daily 30/05/13

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Tullow is a bit difficult to call at the moment.

On the one hand it's made consecutive higher lows but the rise off the big bear day on 17th April looks corrective to me (ie just a consolidation in the downtrend). In addition, it failed to hold the short term uptrend line formed from the 931p low and the first higher low and there were no bullish divergences at that price (they're not required but are often present at important lows).

931p is not a known support level, though it's not far from a minor support at 921.5p. There is, however, an important support at 879.5p and I'd favour a drop to that. 

My strategy here would be to go long on a break of the recent high of 1085p or sit and wait to go long at 880p. A third option could be to go short with a stop above today's high of 1066p as that might have just been a gap fill but that's riskier IMHO.
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