Brent has touched a new low but not BP. Just a matter of time.
Critical support seems at near 135 best buy below 160
BKG (BERKELEY GROUP HOLDINGS) has recently bounced from 50 EMA twice and is now looking set to reach a target 1 of 3955. Target 2 is 4240. Stoploss levels are 3750 and 3670. Exit the half the stock if it falls below 3750. Exit full if it falls below 3670.
As per my wave analysis, trend line and Fibo - I believe the price action for this stock will move Long after a small correction..
Great recent push higher has now got the GENL chart the attention its deserves. As things stand, a potential short term pull back to deal with breakout, then a good push higher. Best to watch price action but guage for 180 to 200, then potential sideways movemnt while the market digests the recent changes, ultimately it looks like it could reach 250 in the long run.
The recent break of the 900 historical level high is a good thing, although maintaining the enthusiasm is becoming a problem with the RSI deviating quite strongly as price struggles to make mediocre higher closes. In reality it looks like its running out of steam, added to the equation is that price is higely overextended from its means (trendline and MA's) which...
Theres definitely something worth planning here. BUY ZONE reasons for confluence - Rounding bottom patterm followed by recent new price highs, relatively significant trendline, good pivot zone with 100 round number, RSI over bought and EMA's starting to perform in the right order. Plan of attack - 1. Wait for price to pull back into buy zone - around 100 (good...