IOC wedge, support ~390, under pressure oil prices
IOC is taking a support at ~387 thought difficult to get a actual support line. But based on the chart this was a Resistance level and now is acting as support. For the short term the tops are getting lower and lower. The wedge formation has to end. the wedge started with a upward move hence it should move up once the wedge is over. Also rising oil prices is keeping this sector under pressure. BSVI fuel subsidy /incentive if announced for the oil companies we can see a upward to 450 levels.
Transaction en cours
long at 395Note
As my VIX will reduce the stock will pick pace. also my CMF levels are negative.after 3-4 trading session if should become positive the scrip will shoot up
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.