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Some Oil stocks.

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9 years 8 months ago #13888 by annes goal
Replied by annes goal on topic Some Oil stocks.
you are a star Trendfriend! Thank you x :D
The following user(s) said Thank You: Trendfriend, Stevo999

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9 years 8 months ago - 9 years 8 months ago #13887 by Trendfriend
Some Oil stocks. was created by Trendfriend
PMO daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...iWWGptGnL5rgiEVII%3D

Looks like a double top. 65.90p important level, break below opens a possible move down to 55p area for a gap fill

Genel Daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...S78B8aFvlbjECSGpM%3D

This one looks perhaps a little more bullish.
The problem we have is that for change of trend, it needs to take out a couple of pivot point resistance levels, this looks like a failure at the first pivot point.
However, while the upside should not be discounted....the rsi looks to have broken support, and a move below the 50 day ema line opens up 105p.
below 105p sub 100p and possibly the lows.....
I think Crude could still p/b towards $35, and a major selloff on the indices is still likley, and you have to take that into account.

BP. daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...HNkGUA26TET83bOt+N4=

looks like its in this triangle while it makes up its mind which way it wants to go, it has been range bound for some time now.

BP. Monthly.
uk.advfn.com/p.php?pid=chartscreenshotsh...gF4Dry7EAwX2w7OJI%3D

Monthly is interesting here, does that not like a suspiciously like bear flag??

Tullow. Daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...VpCNvuKecsF8LR0lwgY=

This one is bang on a trenline support, and all three moving ema lines are close by.
Break and close below and..... :pinch:

weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...uin6tdlk2FR65bt4Q%3D
shows failure at the first major pivot, so no change of trend yet imho...

So there we have it, i would say look to short on the break below key levels, with stops above resistance.
For now at least that looks to be the trend imho....

Stay safe....i'll try and be back at the weekend with some miners.....If any folks have any chart requests, happy to look at them...

ATB, and as always dyor and wdik.
Trendfriend.
Last edit: 9 years 8 months ago by Trendfriend.
The following user(s) said Thank You: annes goal, Soulvibe, Stevo999

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