Zak Mir Video Blog On Bulletin Board Heroes: Bacanora Minerals, UK Oil & Gas and Westminster Group

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Spreadbet Magazine editor Zak Mir takes a look at the technical position of some of the bulletin board stocks of the moment amongst private investors.

Here are the key points from today’s video:

Bacanora Minerals (BCN)

The shares are displaying a possible resumption of the initial July rally after an unfilled gap to the upside to start this week.

While there is no end of day close back below the latest gap at 44p one would be looking to a journey to the top of a falling price channel at 70p by the end of next month.

Only cautious traders would wait on a clearance of the former July 62p support zone as a buy trigger for a new leg to the upside.

UK Oil & Gas (UKOG)

UK Oil & Gas shares have been making progress within a rising trend channel from the end of May based at the 200 day moving average now at 0.87p.

The latest price action is a two day rebound from below 200 day line.

While there is no end of day close back below the 200 day moving average the upside for UK Oil & Gas should be towards the September resistance at 1.70p plus over the next month.

Westminster Group (WSG)

The shares look to have finally rebounded off the floor of a broadening triangle which has dominated the daily chart since the start of the year.

The best way forward now is probably to look to buy into any weakness towards the April line at 30p.

Only an end of day close back below the 2014 triangle floor would delay the prospect of a rebound to as high as the September resistance zone towards 50p.

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