You have been spot on pewal. Well done.
When PEN touches 3.8 cents it seems to pull back leaving good wicks on the daily candle sticks.
My thoughts......The trendline starting 21/3/11 that touches highs earlier in year and now touches 3.8 cents would not be enough to stop a bull run on its own.
If we apply a touch of Fibonacci......The drop from high in early 2011 to early 2012 is 50%.........The drop from early 2012 to current 3.8 cents is 50%.
Im still bearish.
the next few days..., page-7
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