BUY
- Need not to rush for the entry since it’s still on a short to middle term downtrend
- Best possible entry should be above 445 or better, 460 when it breaks the neckline
- If one wish to pick it down low, buy it when it’s still above the trendline but be ready to cut loss once it breaks the lower trendline
SELL
- Those who bought at the top would have lost 20% - cut loss to find better chance
- Time is the real commodity here – expecting a rebound to previous high requires a 30% climb and too it wastes a lot of time
RATIONALE
- Resurgence of COVID makes recovery-themed stocks suffer – O&G stocks are some of them
- Brent is hiking and possible hikes might be coming soon?
- Longer timeframe charts are still on healthy uptrends – patience is needed
- Reversal on trend is seen on longer timeframe
**the analysis is solely for my own references and learning
- Need not to rush for the entry since it’s still on a short to middle term downtrend
- Best possible entry should be above 445 or better, 460 when it breaks the neckline
- If one wish to pick it down low, buy it when it’s still above the trendline but be ready to cut loss once it breaks the lower trendline
SELL
- Those who bought at the top would have lost 20% - cut loss to find better chance
- Time is the real commodity here – expecting a rebound to previous high requires a 30% climb and too it wastes a lot of time
RATIONALE
- Resurgence of COVID makes recovery-themed stocks suffer – O&G stocks are some of them
- Brent is hiking and possible hikes might be coming soon?
- Longer timeframe charts are still on healthy uptrends – patience is needed
- Reversal on trend is seen on longer timeframe
**the analysis is solely for my own references and learning
Note
UKOIL gives a positive sentiment - change of trend but difficult to move due to big cap company
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.