duco1

AKERBP at major resistance.

OSL:AKRBP   AKER BP ASA
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AKERBP has managed to fill the gap it left behind in March of this year at NOK 222,10.
However, currently we've arrived at historical strong resistance, furthermore, we have the 200MA (weekly) just above as well.
The most likely scenario is a retrace before an attempt to break this resistance.

So where to look?
I see a nice confluence of the top of the weekly cloud and the 0.382 fib on the latest impulse on the weekly chart around NOK 194,50).
Of course a lot can happen, but I will be paying attention to signs of support once it reaches this area.
This would mean a healthy retrace following traditional fib patterns and a retest of the Ichi cloud.