SM can see REVERSAL here!
There is a real opportunity here!
SM has taken a beating along with the other major energy players. You can thank Corona virus for causing many of these dumps but i'm looking at the bright side...
Reasons to long:
-Strong weekly support that has seen massive reversals throughout its history
-Weekly divergence on the macd and rsi
-Daily divergence on the macd (Class A)
-Triple bullish divergence on the 4h
- PCZ of crab harmonic pattern (value zone)
-Easy tight stop under resistance, yet high retracing potential
This is not financial advice, please do your own research before opening a position
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SM has taken a beating along with the other major energy players. You can thank Corona virus for causing many of these dumps but i'm looking at the bright side...
Reasons to long:
-Strong weekly support that has seen massive reversals throughout its history
-Weekly divergence on the macd and rsi
-Daily divergence on the macd (Class A)
-Triple bullish divergence on the 4h
- PCZ of crab harmonic pattern (value zone)
-Easy tight stop under resistance, yet high retracing potential
This is not financial advice, please do your own research before opening a position
If you enjoyed this idea, please give me a like. For more content like this follow me
Thanks for your support!
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