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Energy

Scana Corp (SCG) : Poise to break Ichimoku Weekly Kumo Resistance

On the Ichimoku Weekly chart, SCG just pierce through the kumo resistance though not convincingly.

There is a chance that this will be the start of a long term bullish trend.

However, we might want to take note that it is now within a triangle pattern and it is possible that it will go either way.

2009Sep-Scana Corp-800x600_Weekly

On the Ichimoky Daily chart, we can see that it has just gap up recently on strong volume. Most likely it will retrace before attempting to break through the resistance at 35.53 or 36.5

2009Sep-Scana Corp-800x600