Shorter's target is 4.2 cts. Price should take the time it need, but I'm fairly confident given the little movement of that lateralisation that a true consolidation of that fall should only truly happen by bouncing on the 0.042 support. The RSI is still flirting with the oversold limit of 30 for a reason: the selling side is still in the game. Indeed, the supertrend is negative, short term SMA 20 is not showing up any attempt to revert the trend, and is far below the SMA 50. The MACD minus signal is slowing down but still heading South in a already negative area, with no obvious polarity change in the near future. Extending the current trend to the suspected targets of bears forecast -10.6% in the week to come at the current pace...
No significant upward correction IMO until we have reached 0.042.
Tell me what you think.
PRX Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
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