LT chart, still a week to go before the monthly closes. Quite a few rallies being used as exit opportunities through eyeball.
On the weekly that 32C has confluence with the rising trendline. Always difficult to gauge a trend reversal from that Jan18 peak. There have been at least 3 bear rallies:
Feb-July 2018
Dec18-March19
Dec19-Jan20
The risk is that if horizontal support 32C should break, the trendline will come into play. If the latter should also break then 25C is the next horizontal; level.
Anyone using the moving averages or RSI will be aware that price is trading on the "right" side of the those measure. Over at ORE which I also use to gauge consensus sentiment together with GXY, both are not so rosy wiht ORE breaking support this week while GXY is testing its support.
Always difficult to gauge a recovering trend reversal or picking bottoms. Good luck
PLS chart, page-332
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$3.15 |
Change
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