ONDAS DE ELLIOT - OGXP3 (23/08/2011)

AlphOmega Commentary

for

OGX PETROLEOON          on 23/08/2011

Open 10,58, Low 10,19, High 10,84, Close 10,84 Change 0,06
Please note that all wave counts are based on the high low price in this commentary!

Warning! AlphOmega Elliott Waves HV v1.1 has detected a possible point 4 of a WolfWave (21%) pattern for OGX PETROLEOON         . This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4. The estimated target price is 8,04.

The present wave patterns are:

fast amplitude (8%): bearish wave 1

moderate amplitude (13%): bullish wave 2

normal amplitude (21%): is undefined!

slow amplitude (34%): is undefined!

OGX PETROLEOON          is long term Bearish as the 144 days moving average of 15,34 is decreasing. The Relative Strength Index is at 37,59 in the neutral territory. The Relative Momentum Index is at 27,91 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -1,59, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 72,33. This value is in the overbought territory.

AlphOmega Elliott Waves HV v1.1 has detected a Gann Swing or Pullback that is usually a bearish pattern! It should be used with other indicators.

Weekly Pivot Point Resistance and Support

The first weekly resistance level is at 11,50 while the second resistance level at  12,22. The first weekly support level is at 10,29 while the second support level is at 9,80.

Tomorrow's projected High: 11,16, the projected Low:10,51. The top 21-day Bollinger band is at: 13,85 while the bottom 21-day Bollinger band is at: 9,48.