mol chart

Posting an updated chart of MOL highlighting a good week for the share price, after my last weekends post of analysis on the weekly chart suggesting it needed more volume to the up --- it certainly has come in leaps and bounds for it.

Now for the daily view it started out with Friday as thought with MOL dropping down after having a bad close to the previous day which tried to get up and above an area of resistance of 89.5cents.

MOL's closing action was actually a surprise, normally with it being in an area of serious short term weakness one would have expected it to stay down a bit more, but it obviously has found more opportunistic buyers at that level.

With the DOW appearing to be headed for an unsettled week we may see MOL come off a little which will provide an opportunity for a possible short term buy, we just have to distance ourselves away from that huge volume to the up from last Thursday.