PSO Pakistan State Oil Short Term Analysis 10 Jan. 2019

Under Pressure

Our Pivot: 242

Our Preference:  Short sell PSO below 237.60 with strict stop loss of 242 and profit target at 229.76 with extension towards 225.63.

Alternate Scenario: Upward penetration of 242 would call for 245 and 247.

NOTE: PSO is being capped by a horizontal resistance along with a descending trend line.

Chart with Supports and Resistances: