A lot of buyers seems to be interested in this key level. KOG have been returning to this resistance multiple times after breaking the structure downwards. Which means that there is more shorts stepping into the market but the buyers hold the demand in the market. When buying pressure have this control while the shorts cant push the price down, indicate that this...
Even after this recent trend shift that changed it's character, it looks like KOG still wants to try a recovery by doing a retest at the next trend-line resistance where it may give weaker signs to fall from these levels or continue its long term bull run.
Is this a falling wedge with an RSI Divergences that could give strength to make a possible breakout...
We've had some positive price development lately, and it looks like the trend is turning bullish.
Golden cross MA50 above MA200 of course adds to our case.
Current resistance is at 142.5....Interested in an entry @ 136.1 marked by the yellow line.
