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...
Not much in this analysis.
Recent bullish trend in Tullow Oil has retraced to the 50% fib and made a fairly significant move away.
Could be a decent trade as this level seems to be springboarding price to the highs around the 260-290 area.
may be worth dropping down to a lower time frame to hunt entries
Tullow oil shares have had a five-day winning streak on the back of rally in oil prices. Shares are trading moderately lower today in line with the weakness in oil prices.
Oversupply concerns have raised their ugly head off late and may cap the corrective rally in oil prices if today’s US government data shows gasoline inventory buildup.
On the daily chart of...
Ascending support currently being tested, looks like it may have been broken. Will short a retest if it has broken, will target the untouched lows highlighted by the light blue dotted line.
