duco1
Long

GLNG Short term bullish scenario

NASDAQ:GLNG   GOLAR LNG LIMITED
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4
A iH&S was formed and played out nicely.
GLNG has now reached an area of resistance, a confluence of both a horizontal resistance and a trendline .
Printed a bearish candle pattern, so it is to be expected to fall back to the previous support around 8.10-8.30. If it finds support there it will proceed to break through both the trendline resistance and the current resistance at around 9.30-9.80.
Target is the 0.618 fib retrace at 11.15.

So a buy if it finds support around 8.10-8.30 with a target of around 11.15.

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