Afren

uk.advfn.com/p.php?pid=chartscreenshotsh...u0%3D&symbol=A%5EAPT

Bullish piercing line, back through 72.25 horizontal support and looking like it likes yesterday's low. RSI and MACD divergences on shorter timeframes. Only second white candle in ten, which is notable. Key is that RSI support held, but not enough volume yet to confirm.

US crude inventories helped yesterday but after it had already turned.

Looks promising to me but with reservation on volume.

Nice hammer on the weekly. This should get to 90 this week IMO.

RNS was sold into this morning (as is typical nowadays), however, this could lead to formation of 123 low back into the 90's, lets wait and see. I'm holding a few atm.

Didn't see that Count. Have now. Nothing negative there. I think it is simply following crude prices. I read somewhere that Afren has high finding costs, so energy prices are key, like the shale gas companies.

Crude is nearing the apex of a falling wedge, so might see some action in the coming days.

You guys on here seem to be obsessed with horizontal breakouts! There is much more to TA than that mate!

Hi Ian,
Yes you are right, 123 low is a simple trade for novices like me, with a reasonable success rate. I'm still licking my wounds from large previous losses so am cautiously trying to build up my trading float again ')
Really appreciate all your help and advice on here though mate, learning a lot from you guys.
ATB

No worries Count, didn't mean to sound pompous!. You are correct, it is one of the lower risk trades to take, so fair enough. The most important assets are patience and eliminating emotion, plus a bit of money management. The first two are the hardest. You can read the tension into a lot of posts and that drives mistakes.

GL as always
F4T