But it is playing around 1.618 fibo right now, be careful
it might go to over 16 but I rather book it @target
nothing tells me to take profits yet. Almost ++40%
I am long from last week
It is in the Oil industry
This is a Colombian stock that is highly related with the behavior of crude oil prices
Oil prices begin to lose strength upward, which added to the possible recovery of production in Canada and the termination of some problems in the East, will affect fall in prices so that the shoulder head shoulder pattern would accelerate clearly and quickly.
In this new version of graphic analysis, several factors that are supported by the fundamentals of the company, by direct effect of current oil prices and the average of the oil-price in the first quarter, as well: 1. Clarity of divergence between price and RSI, denoting a next correction. 2. In reference with Elliot waves, the magnitude of the price advance...
Seem impossible to get a fibonacci extension retracement, not even 1,23...for this reason I bet to rebound.
Buy another contract (re-accumulate) @ 17,19 SL@ 16,21 TP@ 23,44
1) Long @ 26,14 SL@ 24,55 TP@ 30,72 2) Long @ 26,90 SL@ 24,55 TP@ 33,05