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Sunday, January 16, 2011


One of the champion runner from oil and gas sector

1) Uptrend - Still in uptrend line and watch out the support line 2.58 ( New Fibonaci Line after setting new higher high at 2.96

2) HH - Set a new higher high at 2.96 and now retracing. Previous HL was at 2.5 and need to watchout
3) MACD - Showing slight retracement after 4G1R on the Jan 13.
4) RSI - Overbought and now going to break below 70% rsi for slight retracement
5) ADX - At 50 which have big momentum and if it continues to retracement it will be very fast

Ready to accumulate some around 2.6 ~ 2.55 and please be ready to cut loss if it break the higher low at 2.5 which this will indicate a strong reversal to downtrend
Buy on weakness and accumulate until it break the next resistance at 2.96

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