Wednesday, October 05, 2016 8:07:39 PM
PVG bounces after the 8.31 Low....
Pretium has fallen down in a big plunge like all the miners this week. After making a wave peak in August at 12.41,and trying to base around 12 area,the "wave 4" pattern has broken down this week, and the greater pullback is finding its targets along the way down. The basic retrace picture for PVG has been the 9,8 and 7 dollar targets. here at the 8.30 station is a technical buy zone.I bought some here today.
Resistance overhead can whipsaw PVG back down again ,up and down the stair steps,from 10 to 7...and any points in between. The wave counting has a shape to it that looks like a pullback can hold anywhere here at the 8.30 or step down to 8 dollars. The greater chart pattern could zig zag around for a while,before finishes the direction of a pullback, 7 dollars is still on the chart as a target,and 10 dollars on the top side can generate strong resistance. That's a big range to watch uncertainty going up and down. The buy zone for me is 8.50 to 7.00 and the resistance to sell might start as soon as 9.50 but runs to 11 dollars.
For now,the place to sell shares was way up at 12 area,the place to watch was around 10-11,and then 9 dollars,but to buy below 8.60. Now this 8.60 becomes a support base line to watch and see if it holds as support. Failing in this 8.50-8.60 zone can send PVG down to test 8 dollars ,and then from there bounces up and down can zig zag anywhere from 9 to 7 dollars. it might take some time to settle into the bottoming process.This area around 8 dollars is a big pullback target zone for the whole 2016 rally. Its easy math, to see the 4 dollar bottom and the 12 dollar top you get 8 dollars as the 50% Fib retrace,and we're here now
Pretium has fallen down in a big plunge like all the miners this week. After making a wave peak in August at 12.41,and trying to base around 12 area,the "wave 4" pattern has broken down this week, and the greater pullback is finding its targets along the way down. The basic retrace picture for PVG has been the 9,8 and 7 dollar targets. here at the 8.30 station is a technical buy zone.I bought some here today.
Resistance overhead can whipsaw PVG back down again ,up and down the stair steps,from 10 to 7...and any points in between. The wave counting has a shape to it that looks like a pullback can hold anywhere here at the 8.30 or step down to 8 dollars. The greater chart pattern could zig zag around for a while,before finishes the direction of a pullback, 7 dollars is still on the chart as a target,and 10 dollars on the top side can generate strong resistance. That's a big range to watch uncertainty going up and down. The buy zone for me is 8.50 to 7.00 and the resistance to sell might start as soon as 9.50 but runs to 11 dollars.
For now,the place to sell shares was way up at 12 area,the place to watch was around 10-11,and then 9 dollars,but to buy below 8.60. Now this 8.60 becomes a support base line to watch and see if it holds as support. Failing in this 8.50-8.60 zone can send PVG down to test 8 dollars ,and then from there bounces up and down can zig zag anywhere from 9 to 7 dollars. it might take some time to settle into the bottoming process.This area around 8 dollars is a big pullback target zone for the whole 2016 rally. Its easy math, to see the 4 dollar bottom and the 12 dollar top you get 8 dollars as the 50% Fib retrace,and we're here now
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