PSO Pak State Oil Limited Daily Analysis 27 July 2016

Turning Down

Our Pivot: 434.27

Our Preference: Short sell below 425 with strict stop loss of 434.24 and target at 409 and 403.

Alternate Scenario: Upward penetration of 434.27 will call for 448 and 455.

NOTE;  PSO is capped by a resistant horizontal line on daily bases and its ready for a downward move towards 409.

Recommendations:

Short sell below 425 with target at 409.

Chart with Supports and Resistances: