BPZ Resources Inc. (NYSE: BPZ), a company focused on exploration, development and production of oil and natural gas in Peru and Ecuador, is seeing a pullback in mid-day trading today after rallying in the previous trading session. BPZ gained more than 8% on Monday after the company announced that the Peruvian government signed the Supreme Decree authorizing Perupetro to execute an amendment to the Block Z-1 License to add Pacific Rubiales Corp. to the Z-1 License contract.
BPZ is currently trading 1.90% lower at $3.09 on volume of 180,455, which is well below the daily average volume of 650,886. The stock has slipped from $3.20 resistance level. The upward trend will continue if the stock can break through this level.
Cliffs Natural Resources Inc. (NYSE: CLF), a mining and natural resources company engaged in the production of iron ore pellets, fines and lump ore, and metallurgical coal, is up sharply in mid-day trading today, extending its gains from the previous trading session.
CLF is currently trading 1.24% higher at $39.05 on volume of 3.14 million, which is less than half of the daily average volume of 8.60 million. The stock had finished 8.4% higher on Monday. CLF broke through on Monday after trading sideways last week. The stock broke through $36 and $38 resistance levels, which is a bullish signal. The next resistance level for the stock is at $40. If it breaks through this level then the rally could continue.
Find out if CLF could pick up more steam in the very short term by getting the free full report here: http://www.monstertradingalerts.com/market-scan/?symbol=CLF
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