Rounding Bottom breakout or forming the handle?
Bumi Armada formed a rounding bottom but couldn't break the 50 cents resistance yesterday. Crude oil price are also hovering at resistance after a cup and handle breakout earlier.
Perhaps if the rally continues for oil price it will spur Bumi Armada to go higher. If the breakout is not successful, very likely it will form the handle for the next breakout. Let's see what Mr Market says.
Perhaps if the rally continues for oil price it will spur Bumi Armada to go higher. If the breakout is not successful, very likely it will form the handle for the next breakout. Let's see what Mr Market says.
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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.