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P$Y Chart, page-138

  1. 14,059 Posts.
    lightbulb Created with Sketch. 5
    @senator2004 - All I see are good signs. Price cannot go up until it has bottomed - and it appears to have bottomed.

    Weekly chart.

    A few bullish things to note here:

    1 Shortening of the downward thrust (pink). Each wave down wave is becoming shorter. Note the changing angles.
    2. Upward thrust (yellow) is looking more bullish than others. Note that this is a weekly and so last candle is yet to complete.
    3. Move down from 20c on the last wave down was on ver low volume. This is why we are not seeing much on the way up.
    4. Trendline break today (providing this week closes above 14.5c).

    Note that even if price goes down again, it may well be setting up for a break of 15.5c/16c after going into a trading range for a while

    7-09-2015 5-32-02 PM.png
    Last edited by DrSeuss: 07/09/15
 
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