Suncor Potential Swing Trade

As Suncor approaches a previous area of resistance this area can offer up support and potentially reversal at this area. Depending on the severity of the selling pressure we may see a break down of the upward channel and head back to major support levels (smart to have a stop loss in case it does). However if this decline in share price is transient we can see a reversal take place at around 25 dollars should sentiment in the energy sector change.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.