Entry: 42.00 Stop Loss: 45.08 TP1: 40.30 TP2: 38.85 TP3: 37.35 Close 1/3 of the position whenever touch TP1 and break even Close 1/3 of the position at TP2
SU bearish retest gap. Below all moving averages on the daily. Failing a channel resistance
Since February, GER30 has tried to cross the demand zone, however after multiple attempts, we haven't seen a major correction, just a series of up's and downs. This time, it has aggressively went down almost touching the demand zone but it is now approaching another important support line which has been in a bullish tendency since November 2013.
Im Longterm Bullish on SGY and the Canadian Oil and Gas Stocks. But i believe we need a retracment before another move to the upside.