Premier - PMO

What do you think to Faroe Petroleum plc (FPM)???

currently sat at two Support levels,The main trend line 68p & 61.8% fib from high of 147(2ndoct) & low of 19p(12thJan16), I have another Horizontal suppport level if tendline breaks(63p)

What is the support on the oil Price as the falling prices are not helping oil Shares?????

i think caution with this imvho...
the way it's hanging around that trendline is not a good sign....ideally need a quick drop to that area...and then bounce....therefore a change of momentum...


this looks like it wants to break down imvho...lets see..

atb, wdik, dyor,
trendfriend

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...EMGNn04immeT8qUxs%3D

the call here was for a drop to around the low 50's here...as things stand it has found some support around the mid 60's...a break above 72.4p is a 1,2,3 low or h/high....could equally be a bear flag....and its a fine line between the two sometimes

atb, wdik, dyor,
trendfriend

This one looks closer to support line...
Buy or hold off? ....
Weekly and daily charts added... ta G