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clemson, not sure why are you making decisions based on daily oil price. in reality, the impact to profitability and it's share price doesn't fluctuate daily. maybe it's better for you to use TA if you are trading. Just my opinions, could be wrong.
hi xin3, it was just an opinion. personally, I prefer the fundamentals piece of it compared to TA. nevertheless, there are many aspects and techniques used in TA. these are just my opinions and could be wrong. hope it helps with your research. (1) a good run from the energy sector this week after 4 wks of consolidations. staying above key smas (2) Hibiscus tested and closes above it's downtrend line at 0.92 on 13th and stayed above it since then with increased activities.
Next resistance is located at 1.0 coincide with key sma of 200 days which is also 20% margins of safety levels fundamentally. if you intend to trade via TA, there is a need for you to look at shorter time frame to validate your setup first. For now, 0.92 seems to be the support and resistance at 1.0. as with all TAs, it's a trade based on probability and hence, it's good to determine your trade setup upfront including stop loss. Just my opinions, could be wrong. hope it helps with your research.
