Hi nOOb.
Last week I thought I the weekly char looked like a bullish rising three candle pattern could be forming. That looks more so just now at 1230pm.
I also though we might get a rally with or without an announcement.
My momentum indicator had also ticked up & by Tue was showing signs of a divergence.
So at this time we look to have broken up out of the flag. The divergence appears to have predicted a reversal and the $0.205 resistance level has also been breached. Todays high is the current resistance level.
We all know that PSY has been & is still manipulated so if the sp has in fact broken the flag to the upside what I would like to see for the rest of the week is for the top box box 7 and the $0.24 - $0.26 levels be retested
If the box patterns are going to continue as they have done so far then I would also expect to see the sp retreat from those levels and again trade in the top half of the box.
Its a bit early to say how it will close today but a close above $0.205 would be more bullish than one below that level. If the flag has broken then the target based on that flag is around $0.245
All in all the weekly & daily charts are looking good atm.
Lets hope the momentum today continues on into Friday & next week.
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