PETRONM breakout daily Resistance 7.320 with marubozu green candle and gap up.
Possible to continue on bullish run
PETRONM also breakout weekly and monthly resistance.
next resistance 7.620
chart looks in uptrend channel
18% retracement on daily chart before bullish run.
last candle close 52w high.
www.quora.com .......Jitendra Prasad, M.Tech. Petroleum Engineering & Oil and Gas Industry, Indian Institute of Technology , Dhanbad (1991)
Answered Jun 22, 2017
Normally, profitability in upstream and downstream (Refining) sector are inverse.If crude oil prices are higher , oil companies will earn more profit and profitability of refineries will dip. Whereas...
