Hi FolksI am again looking at the PLS charts. First visit for a...

Hi Folks

I am again looking at the PLS charts. First visit for a while, but after the BMX auction thought it was worthwhile. Short term I have gone back to the daily charts.

From a peak of 3.76 on the 5 Apr we have carried out a classical ABC downward pattern. A wave 3.76 to 2.87 on the 13 Apr , B Wave bounce retracement up to 3.08 (23.6%) then followed by the C wave extention down to 2.54 (classical 38.2% extention). It looks like a triple bottom (maybe?)

Since then we have had a bounce with a current close at 2.85.

I am looking at the 3.08 level as a possible upward resistance point with a retrace due. Once we clear 3.10 after that then I think we are on our way to a bull market.

At that point I will begin to develop my Distgap charts aiming to predict where Distgap 4 will occur. But this is early days only on step at a time.

I suspect we have reached a turning point.

Just the way I deal with the markets so that I am not surprised by what plays out, as always DYOR.

cheers Lies