The reason why I said TOP of an uptrend is 1 the size of pennant and two the size of retrace from the high.. This is a big retrace so until a major resistance is broken one must establish this pennant is at the top for now.
I am not saying this is no longer an uptrend..... I'm saying POG has been range bound for a month or so now with big spikes and drops... On the spikes it test key resistance of $1600 - $1642 on the drop it tests key supports..$1558 -$1545 -$1529 and $1500...So until we have either a break above $1642 0r a breach of $1529 and $1500..This pennant is neither bullish or bearish for now IMO... Like most waiting to see which way POG will break out this range..
