Saturday, May 18, 2013

NS May 19 2013

NuStar Energy L.P. (NS)

NuStar Energy (NS) Monthly Chart

The NS monthly chart shows a higher low, off of which we have the current bounce. That is a Bullish sign going forward.

NS Weekly Chart

On the weekly chart, NS is wedging. It currently sits near the bottom trendline. The dominant pattern appears to be an inverse head and shoulders.

NS Daily Chart

On the daily chart, we see that the price sits just above the neckline of the inverse head and shoulders. It also is just above the lower trendline for the larger wedge pattern. Overall, both indicate either a move higher is approaching, or a major breakdown.

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