China Oil and Gas:

After a few weeks of good run in the stock market, it finally pulled back today. I have 2 oil related stocks which could not withhold the drop, and broke below the support. The first is China Oil and Gas as shown in the chart above. I entered rather late, after the price broke above the resistance. As I was optimistic with oil stocks, I got in within 6% above the resistance. Commodities have not been doing well as compared to the other sectors recently. Even the run up was not significant for them to yield profits for traders. Read more…