BG.

Looks like the high today may have been 1058. SO can you correct me/give feedback if this is correct from what I have been reading today: Fibonacci retrace would be the difference between 991 and 1058 =67 For 61.8% retrace take the 67 multiply it by 0.618 = 41.4 Take that away from 1058 and means if it retraces 61.8% it will come back to 1016.6 or 1016.5 to keep it sensible.

How likely is it to retrace only 50% (1024.5) or 38.2%? (1032.5)?

Nice spot Jackozy!!
I missed my entry by 1p day before yesterday .. will have to wait for another setup now.

I've just closed my long at the 1050 breakdown point for the last drop:



dl.dropbox.com/u/20815047/BGdaily21_11_12.gif

I'm looking to re-enter at the 61.8% Fib of the 991 to 1050 move (assuming it does retrace from here that is).

Have to agree with diver. These so called experts are so out of sync it make me wonder if they actually ever trade themselfs.
I would really be surprised if they did any trading. All they do is write .Do they have a track record in technicals before they are hired to do this??
My golden rule is Never listen to anyone especially brokers. As diver just highlighted.

Anyway,
It should be a free trade for all that have entered this share now as price has moved 30 points in your favour.
No excuses for losing now. unless some thing unthinkable happens .. .better not put the kiss of death on it....

Just goes to show how blind the folk at Trading Central are: the RSI has been below 30 since Oct 31st, the exact same date as the emergence of the bullish divergence they are looking for and failed to see. If one wants to be 'belt and braces' then the correct move would be to wait for a retest of the first pullback but, so long as you have a tight stop in place, enjoy the ride.
Remember what Remo always says - 'listen to nobody and DYOR'

Read this on the bb today. Opened trade this morning and happily up as market closes - thanks

BG Group plc (BG) shares are said to be oversold by analysts at Trading Central who note the RSI on BG's share price charts is oversold.

That said, it is too early to call an upmove for the stock at this time, and the "downside prevails as long as 1089 is resistance."

"The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative," says a note from the technical specialists.