SNGP Sui Northern Gas Pipelines Short Term Analysis 14th March 2018

Under Pressure

Our Pivot: 119.20

Our Preference: Short sell SNGP below 117.30 with strict stop loss of 119.20 and profit target of 114.40  and 111.90 on short term basis.

Alternate Scenario: Upward penetration of 119.20 would call for 121 and 122.25.

NOTE: SNGP is caged in a triangle and right now its moving downward after retesting its resistant trend line of said triangle and its being pushed back by a horizontal resistance. Hourly Stochastic and MAORSI are in also bearish mode.

Hourly Chart with Supports and Resistances: