The recent pullback in the price for InterOil creates an interesting picture on the charts. After reaching highs above $20, the pullback seen in the last few days takes the market back to near the 50% Fibonacci retracement level around %15.78. It's a crucial area for the near term. Support seen near here will be seen as a positive while a fall below 61.8% level at $14.19 will move the view back to neutral. On the upside, expect any near term gains to test and move likely break resistance bank of $20-21.
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