Today we’ll analyze the stock Oilexco Inc (OIL) for online market trading,
Technical indicators to notice in Oilexco Inc (OIL)
1- Last bearish trend was from 80.18$ (5/21/2008) to 73.14$ (6/4/2008) a 7.04$ move
2- The current bullish trend started from 73.14$ at 6/4/2008 and is currently trading at 82.95$.

3- OIL current support level is at 82.09 which is the 127.20% fibonacci retracement of the last 7.04$ move.
4- OIL current resistance level is at 84.53 which is the 161.80% fibonacci retracement of the last 7.04$ move.
5- According to ADX, the trend is currently strong bullish,which is becoming weaker.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Oilexco Inc (OIL) Short term chart patterns :

6- The Stock was supported by a support line, identified by two points: 73.14 and 67.12, and is currently supporting at 73.6635.
Oilexco Inc (OIL) Mid term chart patterns :

7- The Stock was supported by a support line, identified by two points: 73.14 and 59.71, and is currently supporting at 73.6667.
Oilexco Inc (OIL) Long term chart patterns :

8- The Stock was supported by a support line, identified by two points: 51.05 and 50.79, and is currently supporting at 51.57.

Conclusion:
Oilexco Inc (OIL) was trading in a strong bullish wave, which is becoming weaker .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
.

Resistance Levels: 84.53.
Support Levels: 82.09, 80.63, 80.18, 79.20, 78.04, 77.49, 76.89, 76.66, 75.83, 74.80, 73.67, 73.66, 73.14, 63.24, 62.79, 60.86, 60.36, 51.57, 37.50,.