CarolP111

possible support and resistance lines

LSE:UKOG   UK OIL & GAS PLC ORD 0.01P

The bottom black line seems to be support, the above light blue line is where there had been previous resistance and support previously, my prediction is that it will either rebound off of the light blue or, due to it's high volume and increase, break through resistance and rebound somewhere in between the light blue and navy.
my strategy would be to wait, if it rebounds at the light blue then wait further to see if it bounces off of the black support line and if it begins to rise again then trade.

If it rises further at the same rate and surpass the light blue, then my strategy would be to wait for it to drop ,bounce from the navy (the navy also lies on the 2.000 boundary which makes it a more likely support/resistance line) and see if it drops to the light blue and rises and if so then trade.
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