Re Visiting OGC 16/11/2016.

I will not get into OGC long term technicals which I have covered earlier. What I will say is that, the price action is currently testing the breakout level of the weekly TF ( not shown). BREAKOUT followed by a PULLBACK in short is what is on hand.

On the daily chart what do I see ? A BULLISH PIVOT POINT. When ? Yesterday (15/11). What do I do with it ? I initiate a LONG POSITION with my danger point being the low made a day earlier (14/11) at $3.30 which must hold. A trade which may last few to several days, if it works out. Stop at breakeven now.

When the media gets over bearish about something, it may be time to be contrarian. How ? Read the chart I say and utilise any reversal. After all, a low risk entry at a support with OGC. To me anyway.

Disclosure : OGC held.

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