Here we have an intersection between the resistance line and the support line. However, if the support line is forcefully broken by a large red candle and followed by large red volume we can enter a sell position at the next red candle. On the other hand, if it is the vwap indicator and the resistance line that has been forcefully broken by a large green candle...
i changed Fibonacci level to show accurate reversal price. still not FA
Petro Rabigh chart had performed very well for us last year from sub 14 to 27 SAR and now is about to perform again! The reason for this projection is the underline macro trend that is now confirmed and is about to break to the upside with potential gains of +50%. The method we use is HVF, long tested and proved accurate with combined with volume analysis....
Here we have a pull back on the RABIGH REFINING AND PETROCHEMICAL. This is a reversal upward trend.
We can sell now RABIGH REFINING AND PETROLCHIMICAL CO.
TADAWUL:2380 Petro Rabigh is way under appreciated in a pull market. The chart is moving towards a breakout above 15 SAR to make Hi3 on the underlying volatility funnel. For early entry only!
If the price breakthrough the triangle the price continue the long trend line. 2380
RABIGH REFINING AND PETROCHEMICAL CO - 2380 - Long Idea
Currently the price is at the lowest levels There are two buying opportunities, the first is waiting for the price to descend to the Fibonacci level 0 or close it and buying from the price 9 or 7. Either in case the price breaches the downtrend and exit from the 0.23 Fibonacci level, buying from 14.5 and consolidating after breaking the Moving average Line 200
After testing 2 times a very critical resistence and it makes a fals breakout from the trendline, the price will move down to make a new low Good Luck
Next days we can forecast the next destination for the markets using Fibonacci retracement. stay tuned
The market continues increasing because: moving average break the vwap with high volume. the buyers guide this markets