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Feb 22, 2019 4:14 AM

BP approaching resistance, potential drop!  Short

BP p.l.c.NYSE

Description

BP is approaching our first resistance at 43.43 (horizotnal swing high resistance, 61.8% fibonacci extension, 61.8% fiboancci retracmeent) where a strong drop might occur below this level pushing price down to our major support at 40.72 (horizontal pullback support, 38.2% fibonacci retracement).
Stochastic (55,5,3) is also appraoching resistance where we might see a corresponding drop in price.
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