Continued DCA on BP. If in doubt zoom out. ** NOT TRADING ADVICE **
Hi traders. Following the turmoil with oil prices falling globally as demand for oil weakens, I am planning on purchasing shares in certain oil firms. One of these firms include BP. As oil prices are dwindling down, I would expect the earnings report released towards the end of April to be terrible news for the firm. Thus, I would ideally buy shares at low...
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...