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Sunday, January 30, 2011

Oil and Gas Sector Rebound at 53.91

In my previous posting, this was my observation

If downward continuation -  Better take some profit and wait for reversal at S1 - 53.91 and S2 - 52.24

Current graph on 28 Jan

1) Trendline - Broke the temporary Downtrend line ( Slight Bullish)
2) HH -  Rebound on the previous higher low at 53.91 and going up. If break above 58.65 it will be confirm bullish for safety investor and for risk taker ( Trader) it will be good to collect now and take profit when this overall sector hits the resistance at 58.65
3) MACD - Blue line start to going up and have a 4R1G signal to indicate a slight bullish
4) RSI - Testing the 50% and a rebound from here will indicate a slight bullish
5) ADX - Momentum still good and with bullish signal

Safe Investor
Entry Price -  above 58.65
Stop Loss - below 53.86
Take Profit - 59.97

Risk Taker (Trader)
Entry Price - above 56.68
Stop Loss -  below 53.86
Take Profit - 58.65 (R1) and 59.97 (R2)

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