SLB sentiment changing to bearish

During this recent move up in S&P             (100 handles from the last bottom) Oil&Gas ($XOP) stayed one of the weakest sectors and specifically shares of Slumberger.
After exhausted move up on the end of June, it entered into correction and broke down its 50 EMA that was in control since the beginning of 2014.
Now, sellers keep preassure and hold resistance at $110 which could be stop line for short position.
My approach is active trade management. Initiate tier 1 now, then add on break down of $107.50 gap point, then add if it will close and hold below $105.39 with target at $102 - reasonable level, earlier it acted like resistance and now should act like support.
Поиск торговых идей,
оценка настроений рынка, сценарии и торговые планы.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out