CNOOC Trading Analysis (14/08/2024)
The trend is ascending. The downward truncated wave structure finished with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator. The breach of 20.36 will start the formation of the ascending wave structure.
Trading idea:
- Buy at the breach of 20.36.
- Stop-loss at 18.70.
- Price targets at 22.14 and 23.50.
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