I'll stick to my 1800ish support atm cos that is prominent on my pnf. It pretty much invites WPL down to there.
I see your 1775 but it only looks like a hiccup on the way to 1680ish if 1800 is broken.
Not suggesting you're wrong, just that pnf's seem to see things differently to other charts and that's what mine sees. Sometimes simplicity works, sometimes it doesn't.
I have 1550ish as a potential longer term bottom but that would probably need oil to hit my d/s target of 4050ish which is the bottom of channel on the poo pnf. Lots of if's and but's. lol
Being a bear of little brain I prefer to deal with one support/resistance at a time anyway and then re-assess from there, so at this stage if it hits 1800ish I'm open-minded re the next move.
BTW I see a mini support at 1845 though I don't expect it to hold.
NB. Figures mentioned are closing prices.
WPL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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