PLS chart, page-6955

The folk here who post charts, stick their neck out knowing that criticism of TA and their own charting interpretation and analysis is likely. Charting and using it to trade or take an investment position in a climate such as this, is not an exact science and IMO should be done with fundamentals firmly at the front. The support zones generally fail as the market manipulation is rife. Stan Druckenmiller can testify to the change in market dynamics over the last decade.

So as in my previous posts, I expected a pullback to the 215-220 zone early this week. Here we are on Wednesday and they are testing it with a low today of 218 so far, as near as damn it to the fib 61.8% retrace level.

No doubt they will test that again during the day as they have already manipulated the range they want today and it remains to be seen if buyers really step in at some point. They are good and they have deep pockets.