re: question for holders - chart Hi all,christianp mentioned the...

re: question for holders - chart Hi all,

christianp mentioned the PSA chart earlier. Please find following my take on PSA. Sorry for the compressed detail but the smaller pattern at the bottom is a minor fib set that seeks to confirm the building pattern which recently topped out.

I've had this in place as the rising target since late last year and unfortunately today was the first time I've revisited this chart since then. So I've added a few arrows for the confirmations and would confidently say that for those long (why are you still long?) you will be seeing 85c before you see new highs.

In the normal scheme of things a bounce from the 1.02 level to 1.19 and maybe 1.39 would be expected, but that (should it occur) will then be followed by a final capitulation (I prefer consolidation) to 85c, so use the bounce to exit imo not buy more........