LIOC.N0000LIOC Update on 01/11/2023
LIOC trying to break 50 Daily MA line. If LIOC can close few more daily candle 50 DMA line, then LIOC might run till 200 Daily MA level. So short term target will be 150.
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Lioc
LIOC - Bullish divergence in daily chartEntry Point: 120 to 130
Profit Target: 180-200
Stop-Loss: 110
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
LIOCMarket is being going through a roller coaster due to this guy!
its currently being absorbing heavy liquidity below 165, tomorrows close is vital.
pros.
small timeframes flipping bullish 1hr and below
making a small falling wedge
possible double bottom pattern
most negatives are being priced in
cons.
trading below 200DMA
previous support at 170 (descending triangle) will act like hard resistance
if you are longing make sure to DCA and buy in portions
LIOC - oily mess?
LIOC failed to break 0.382 fib level last time... and got rejected at 206.75. Prices have declined ever since.
Next crucial support should be 183. Entering here with a strict stoploss can be done ideally. (1%-2%).
RSI may need to find support from its trendline as well.
**Remember sometimes the negatives are already priced in**
LIOC - Oil 3x
As expected LIOC broke out from the last update i have done over the weekend and got rejected on point at 206.75 as mentioned above! ^
And in smaller time framers it got retested untill 201.75 and closed at 204. Likely we will clear above resistance point tomorrow. and go towards the marked resistance
gradually.
RSI seems to be broken out as well.. overall counter looks lit!