PSO Pakistan State Oil short term analysis 18th Aug. 2020

Further Advance

Our Pivot: 185

Our Preference: Start buying PSO above 192.50 and average it out till 190 with strict stop loss of 185.00 and profit target at 200 and 206 with extension towards 219.

Alternate Scenario: Downward penetration of 185 will call for 178 and 165.

NOTE: PSO is moving in a bullish price channel to complete expansion of its previous daily correction.

Hourly chart with supports & resistances: