Now at 1.235…..
Sent: Wednesday, December 02, 2015 9:26 AM
Subject: ************ NOL: Back to consolidation for now, price 1.215
Subject: ************ NOL: Back to consolidation for now, price 1.215
After the breakout seen last week where it trade to a high of 1.23, we have seen some profit taking for NOL with range currently from 1.18 to 1.22. Short term trend may still be in place above the 1.18 temp support level which seems to be holding well. Only the downside breakdown of 1.18 will invalidate out bullish scenario, in this case a retracement will shape towards 1.14. MACD momentum indicator still trending upwards firmly with 20 day sloping upwards firmly too playing catch up to recent price rise. A breakout above the 1.22 – 1.23 immediate resistance can pave the way to 1.26 then 1.30. Those who have taken profit can consider entry near support with Stop loss below 1.18 for any long positions.
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