OGDC

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OGDCOil & Gas Development Co. Ltd.PSX_DLY:OGDCaddimasud1OGDC appears to be in a strong uptrend, and the overall market structure remains bullish. The price has shown a clear rejection from key support levels including the 0.618 Fibonacci retracement and a previous support zone which indicates strong buying interest. In addition a bullish flag pattern has been formed and successfully broken to the upside which is typically a continuation signal in an uptrend. This breakout suggests that momentum is building in favor of buyers. Based on this structure and momentum, if the price sustains above the breakout level OGDC has the potential to move toward the 360 level in the near term.