Probably time to start thinking about Monday now. Looking at the chart I see that the pennant breaks upwards at 516, so anything over that today gives us a significant upside over multiple days/weeks, but we are working on the theory that we are in subwave 3 anyway so the upside is theoretically around 638 at least regardless. The short term trend channel gives a channel range of 499 - 537 (subject to any input from the US lead basket overnight), and the very short range trend gives a floor of 503 so I'd guess a practical range of 503 to 537. The outer channel is 461 to 585 Monday. 5 minute buy signal is still active (but that may change this afternoon) and anything over 499 keeps it above the 7 day EMA. RSI is sitting about 58%, so plenty of room for expansion. All up it is looking to continue the rising trend Monday, although it could be "down" on the day and still be rising over multiple days. If it gets to 524-528 it will probably come down on Monday, but still deliver a higher low, if it closes around here it could go either way, if it comes back a bit for the close, but stays above 500, we'd expect it to be rising on Monday, but remember if it closes above 516 it would have broken the pennant upwards and that could see it breaking the channel on Monday.
I have adjusted the ray markers for Monday.
PLS Price at posting:
$5.06 Sentiment: Buy Disclosure: Held
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