The stock has witnessed a sharp breakout from its 200-Day average with strong volumes after a double bottom formation near 195 levels. It should face some resistance at 270 and a crossover of the same would extend the up move to 310-320 levels over the next few months. RSI has pierced upwards on the weekly candle indicating the positive momentum to continue from current levels.
Oil Price Today (August 26): Crude oil tanks 6% in two days to hover near $85. What’s behind the decline?
Brent crude futures were down $2.35, or 2.65%, at $86 a barrel, while U.S. West Texas Intermediate crude futures fell $1.94, or 2.36%, to $80.42.