PNV - Chart, page-21473

First real test of market support this morning (since the 6th & 7th May)
I wouldn't worry too much what the asx does today (US tonight will be more important)
Although the xjo fence is sitting at 8360 that needs to jump
Market holds up & it's a quick recovery after a session or 2
Grind up will continue (hopefully ending with the melt up of the century)

Market buckles & it could take a few weeks to resolve with eventual new highs. But this won't be the melt up of the century I'm waiting for
More waiting will be needed

For PNV specific numbers, we need to jump 1.50 today, 1.45 tomo or 1.41 wed to prevent bears regaining control of the chart
1.40 needs to hold, if it can't hold 1.46. But can get as low as 1.28 if bears regain control of the chart & have another crack
As long as the dip buyers keep turning up when the bears have their crack, rather than chase this up just to get stopped out, those 70m (maybe 80m) shorts will be driving the sp up for the next 6-12months (at least)

The rest of you can keep panic selling with every flush or sit on your hands doing nothing

Anyway, it looks like 1.72 could be our marker
As soon as bears lose that, the domino effect will kick in to make a run for 2.40
Until then, still waiting for more volatility
We can't stay under 1.50 for too long though