Interra has been trading below this 0.49 resistance level for more than a month. Today we have seen it surged to TOP 10 volume and currently has tested and broke the immediate resistance at 0.49. The next Critical Psychological resistance to watch is the 0.500 level, if this level get taken up by buyers, a potential trade setup can be in place for more upside. Day high as of now is the 0.500 level that it has attempted to break above but so far NOT YET. Possible to enter around this level to wait for any breakout opportunity, we will average up on the lifting of 0.505. Short term target to 0.545 – 0.55 level first which was the high set in June last month.
Stop loss at 0.485 for breakout trades.
NEWS ON 17TH JULY 2013
-- INTERRA (ITRR): Its jointly controlled co, Goldpetrol Joint Operating Co, completed drilling YNG 3255 well in Yenangyaung oil field in Myanmar, and well is producing 75 bbl a day. Well is the 6th drilled in the field and 11th drilled in Myanmar this yr.
DBSV – 5 JUNE 2013
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