CFD Trading – Short Sell BP Plc. (BP.NYS) @$26.10

BP PLC. Stock Code BP.NYS


Price gapped below the cloud in the previous trading session, changing the chart outlook from bullish to bearish. This gap and the Conversion line are both likely to act as resistance to any price rally. This bearish trend will only be reversal if price can close the gap to $27.30. Conversion and Base lines had a bearish crossover earlier, hinting at a bearish price trend. Lagging Span is below price of 26 days ago but is above the cloud. MACD has turned bearish and is moving lower. We think price is likely to go down to the next support point at $22.83 in the next 2-3 weeks.


$26.10                Short Sell

$22.85                Price Target

$27.30                Risk Management Stop

3 weeks              Trade Duration

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