PLS chart, page-3585

Been a while since I posted my view of the world so here it is.

PLS price has been range trading for the most part since early August. The market has been absorbing world events, sector events and company specific events. The range marked by the 2 dotted red lines. Basically 202ish to 245ish. A few intraday excursions above and the real multi week tester below which closed the gap and tested many a punters metal. Some of us took advantage of the situation through luck, Kahunas, stubbornness, conviction, intelligence, stupidity and in many cases, a mixture of all. I took advantage and averaged another entry in the 180s

One point to note, the Acc/Dist indicator (Magenta line in the bottom chart) showed the short term distribution from early September. It has come back to the yellow trendline. Nothing to see here as this should of been expected after the rapid breakout from the 160 level. I would expect this indicator to level out and start rising again now that the company specific events are looking very rosy and the world financial markets have stabilised, for now.

The basics. Price back above the 21 SMA (Blue) & 55 SMA (Orange). The 21 SMA hasn't crossed back above the 55 yet. Safely sitting in the middle of range. 200 SMA far below at 149ish and not expected to come into play unless there is market upheaval.

Short term. Market participants absorbing all the recent positive news and BEOT, traders, shorters all doing their thing. It'll all work it's way out in the wash and I would expect a continued advance to the top of range within the next few weeks.

There is a pesky gap which hasn't closed so far today. 214-215 and the low today is 216 so it's appears to be an inside day forming, that is the price range of today will be within yesterdays range.

I particularly noted the disappointment expressed at $2350 US auction result as reported by some dumb arse analyst. They do make me laugh at times. Obviously an agenda here. All time high Spod price with multiple parties bidding and that's a disappointment. Seriously.

Good luck punters, enjoy the ride and the shenanigans.