Well..... looking at it last night I thought, PVG is showing better strength against the forces of manipulation.... it made a good bounce at 6.19....drove thru the 6.50 resistance, on to and thru 7 dollars now, retesting the 7.45 top zone....and looking more strong than weak. not showing much weakness like other miners do. thats why I own it.
There was a wave structure in play , some days ago, when price was pulling back, that showed where resistance was....6.50 area...where price could fall again and target lower lows.but rice held at 6.19 and now strength in the rally has taken over and brought PVG back to the 'top zone'
Now spot gold has also rallied from 1240 and testing resistance zone at 1275. So this week is a bullish looking rally moment for gold and PVG continues along with it.
It would have been nice to buy more PVG at 6 dollars or 5.75....but it didnt happen this time.
Now, the chart picture is looking stronger and the 6.30-6.50 zone as a more solid support zone....and you can see the 50 ma rolling right through it there. on weekly and daily chart. The 200 ma is around 6 dollars but hasn't flattened out yet at 6 dollars. Things are progressing.
Its always a guess where price might bottom or top. right now, today is a spinning top at a top zone. that's a warning sign . this top might see some pulling back soon. and now the 6.50-6.30 area appears stronger as a support zone but I wouldnt get too excited until June is over.
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