Tullow is looking good for a retest of the 0.236 fib level. MACD is looking like it's in decent shape and the RSI still has legs.
From a geopolitical standpoint Tullow's operations are a long way from the sabre rattling in easter Euope so this bodes well also.
Target is 65.75 GBX.
If we clear that then and resistance acts as support the next target is 78.65...
this is just a trading idea I had for a small-cap company that should perform well under a strong oil rally in 2022. Short 6mo hold, not as exciting as crypto, but a good trade nonetheless.
Quite a similar setup to EML which I'm heavily invested as well.
placing was done at 3p so cashed up with several assets to head into 2020 with 2 of them being producing assets.
Very bullish in this company with BoD having skin-in-the-game Ex-Tullow Oil people.
Aiming for 6.5p for a slice but long term this company is set to embark in becoming a mid-cap...
If you take a look at this daily chart of TULLOW OIL, you can clearly see some big potential for a move higher.
I personally entered as shown on the chart because my analysis is showing a beautiful lowrisk setup, its a very tight stop, you might aswell give it a little bit more of breathing room, but the reward is very tasty.
I think if OIL prices start to go...
