Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Sunday, February 17, 2008

Sky Petrol 150208

As discussed on 6 feb, the reversal signal for Sky Petrol did not quite materialise on 11 feb as it opened high and closed on the previous day's closing.

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However, the signal came on 12 feb when Sky Petrol formed another Doji, this time right on the 0.315 psychological level (light blue --).

Sky Petrol broke out with volume on 13 feb, breaking the downtrend resistance (upp pink --) and the 0.335 psychological resistance (blue --) along the way.

I've added a short term uptrend channel (green), and if Sky Petrol is able to maintain this uptrend momemtum, we might even see it testing the downtrend resistance (low red) very soon.

For monday :

Support @ 0.335 (blue --, upp green), 0.320 (upp pink --), 0.315 (light blue --)
Resistance @ 0.362 (upp green), 0.366 (low red), 0.370 (low blue)

Good Luck !!
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