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Is OI setting up for a drop? 180 Bearish Setup shows up after sinking 1.45%
On Wednesday, August 5th, OI moved down 1.45% while volume was to 0.8× the usual levels. consolidation patterns formed: NR7 and NR7-2 and Narrow Range Bar and Calm After Storm, suggesting a potential continuation after price stabilization. Key support levels exist at 7.38, 7.29 & 7.14, with resistance at 7.61, 7.76 & 7.85. Meanwhile, Slow Stochastic is showing oversold conditions.
Current SwingTradeBot Technical Rating of OI: F
Today’s move could mean more—check all the signals for OI on SwingTradeBot.
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