Zak Mir on today’s oil opportunities; GPX, RKH & TLW

0 mins. to read

By Zak Mir.

Oil Opportunities:

Gulfsands Petroleum (GPX): 

  • Extended post July base includes brief sub 50p bear trap
  • Rising trendline in RSI window
  • Bull flag consolidation ahead of 200 day moving average target at 82p
  • Best case scenario on 2-3 month timeframe as high as 110p 

Rockhopper Explorer (RKH): 

  • Current clean 200 day moving average break at 139p backed by August sub 120p bear trap rebound.
  • Above 200 day line targets as high as February price channel top towards 180p
  • Only sustained price action back below 135p July resistance delays upside scenario
  • Weakness towards 200 day line currently a buy opportunity. 

Tullow Oil (TLW): 

  • Extended, wide post March descending price channel
  • Multiple failures below 200 day moving average, all near term moving averages falling.
  • Sell into strength towards 50 day moving average at 1,035p
  • Possible worst case scenario sell off towards 2013 price channel floor under 800p by the end of this year. 

Comments (0)

Comments are closed.