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:
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