Accumulation in Oil & Gas.. Ready for change of trend?

Oil & Gas counters mostly building a strong sideways accumulation. Recently most of the charts in O&G sector show sign of strength especially No Supply signal. This indicating lack of seller in the market. Below are 3 of the counters from O&G with accumulation & sign of strength. You can go to TradeVSA screener if you wish to find out more O&G counters with sign of strength.

Serba Dinamik

Strength signal in the chart:

1. High volume changes the direction
2. Forming accumulation with NS and SP signal at support
3. Increasing volume on Thursday

Deleum

Strength signal in the chart:

1. High volume changes the direction
2. Green pentagon follows by increasing volume
3. Pullback with low volume

Hibiscus

Strength signal in the chart:

1. High volume changes the direction
2. Spring as main support
3. Increasing volume with Line Change break above UT & SP

Watch the video below for more details about Tiong Nam using Volume Spread Analysis:
2 May 2020
https://www.tradingview.com/chart/HIBISCS/3ukFIK5K-TradeVSA-Accumulation-in-Oil-Gas-ready-for-change-of-trend/

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