I'm still watching, its a shame the eliot POV didn't eventuate as I was hoping on the daily. I did say if the high of the B wave went we could see some upside as it should be completing the new wave 2 ( i bought in on that breach - and sold as i was wrong .
so now the dust has settled a little and its interesting to see the resistance caused by the high of wave 1 and the top of the gap @ .75 cents.
what i'm interested in is the way price is playing out in the same triangle as it did before it broke out from the lows.
you can see the 4 channels have timed the rise in price well all the way back from 5th nov and also the actual breakout up trend which started at the bottom of the triangle on the 21st December.
so tomorrow .455 will be telling, i think if it fails to move out of this triangle to the upside we will see a gradual decline to the support of the triangle around the .425 area, where a breakout to the upside or downside will be in play from there.
if .425 goes we should see .38 cents.
PDN Price at posting:
44.5¢ Sentiment: None Disclosure: Not Held
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