GKP

Yes there might be a bounce and test of 41.5p from 36p . if that test fails then this will be going down like lead balloon.

TF,

the difference between the two examples on your chart is that the current formation has back tested and failed at a previous support (42.25 area).

That is 2 tests on 36./36.50 area now. Next test and it should fail. Let's see.

Livenow, what is the significance of 41.50? Ta.

If I am correct, the next lower point for a modest bounce is 29, the weekly support.

F4T

Trendfriend wrote: uk.advfn.com/p.php?pid=chartscreenshotsh...LGYE=&symbol=L%5EAFR

I'm gonna go long @36.5p... tight stop...
Scalp only as the trend is still very much Dowwwnnnn.....

Looking for a small bounce and out...

Regards,
trendfriend

41.5-42p is support turned resistence. was support on 16 oct 2014 and then 11 feb 2015. break down through it on 12 feb triggerd 14M vol with 9% drop.

Nothing wrong in taking positions at support levels F4T...
You have to be in a trade to win trade.

You either get stopped out and lose a small amount, or you gain a nice profit.... one of the two...

Regards,
Trendfriend

GL there chaps!
PS: how much room do you give for stops TF? Ta.

hi richard.
sorry for the late reply..been busy.
i would have shorted at that point yes .
The triangle breakout on gkp has a target as well...Does anyone know what that target is

SirRichardBunson wrote: Hi Remo ,,,, with Brent rising to $60.32 this morning would you still take that sell trade on the retest of the 42.25 support line should we get there,,,, or adopt a wait and see

I realise that this oil rise does not alter GKPs financial mess