Wednesday, October 12, 2016 10:25:06 AM
Fibonacci Geometric PVG chart
Pretium...
IF the bottom holds here for the moment, and we see a bounce into resistance zones 9.20/9.50 area and somehow the bounce gets capped and sold down, the downwave could get momentum and emboldened sellers shorting miners all over again can take the miners down to the low targets on all charts. There are pivot point targets and some key moving averages down lower, all targets if the powers play that game again. why would they not is my question.
This bounce if we get one now,is a bounce to sell at the 3rd or 4th capping ,if they are so kind to give us 2 or 3 warnings...that's a traders resistance to sell. for PVG the resistance targets at 9.20 and 9.50 have my eye right now, its possible a better rally could show strength to reach 9.75 or even test 10 dollars...but a bullish rally has the target at 10.22 area, a complete recovery from the smash down of last week. Unless we see that kind of recovery in this cycle, then the pattern has changed to bearish in this cycle , and any Failure at any resistance overhead, could generate the next downwave to test the lower targets., for PVG those are in the 7's. technical bargains to buy,riding the roller coaster tracks up and down.
Pretium...
IF the bottom holds here for the moment, and we see a bounce into resistance zones 9.20/9.50 area and somehow the bounce gets capped and sold down, the downwave could get momentum and emboldened sellers shorting miners all over again can take the miners down to the low targets on all charts. There are pivot point targets and some key moving averages down lower, all targets if the powers play that game again. why would they not is my question.
This bounce if we get one now,is a bounce to sell at the 3rd or 4th capping ,if they are so kind to give us 2 or 3 warnings...that's a traders resistance to sell. for PVG the resistance targets at 9.20 and 9.50 have my eye right now, its possible a better rally could show strength to reach 9.75 or even test 10 dollars...but a bullish rally has the target at 10.22 area, a complete recovery from the smash down of last week. Unless we see that kind of recovery in this cycle, then the pattern has changed to bearish in this cycle , and any Failure at any resistance overhead, could generate the next downwave to test the lower targets., for PVG those are in the 7's. technical bargains to buy,riding the roller coaster tracks up and down.
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