The uptrend scenario has been a good forecast as the stock price is nealy at $60.
The french blue chip Total (FP, 111b € of Market Cap), from the oil industry, is inside a bearish dynamic since June 2014. This is characterized by lower tops and lower bottoms. Currently, the buyers seemed to have taken back the advantage, but the Major resistance area at 45.00€ is still preventing the stock from going higher . As long as this level is not...
SHORT FP (TOTAL) intraday + uncertainties in oil market: meeting in Doha is overvalued, drop in crude inventories can ne as crossseasond + further CPI goes down in China as leader importer of crude + FP (TOTAL) closed gap + additional big volumes in some 5M bars didn't lead to grow of stock. Short enter = 40, Profir 38.90m Stop = 40,3
SHORT FP (TOTAL SA) intraday (FPP in Tradeview) + oil rebounds yesterday on APIreport + yesterday China PMI - long-term negative outlook for oil - oil reach resistance level, could be in sideways Enter short = 39.20, Stop = 39.60, Profit= 38.60
LONG^ + oil rebounds before API + China PMI + Support levels in oil + Support volumes in FP stock within 3 last days - long-term negative outlook for oil So, if oil will hold 36.5-36 level and go further up - I will catch up the FP around the open priceafter rebound in 5M bars.