PNG For the main man G
PNG is consolidating on decreasing volume which is usually a bullish sign as there is no real Bear volume in the pull back. the volume has dropped right off and the RSI is on a level that in the past has sprung from to the upside.
Looking at the daily PGM has touched the "new trend line" and had a nice bounce forming a higher low.
The Daily MACD is about to cross Bearish and this may see one last flush to the down side and perhaps use the "old trend line" as support before we see a spring to the upside.
Scouting an entry between .105 and .095
Target's are at point a,b and c on graph which are previous resistance levels.
Stoploss for this one .085 below the last swing low.
Looking at the daily PGM has touched the "new trend line" and had a nice bounce forming a higher low.
The Daily MACD is about to cross Bearish and this may see one last flush to the down side and perhaps use the "old trend line" as support before we see a spring to the upside.
Scouting an entry between .105 and .095
Target's are at point a,b and c on graph which are previous resistance levels.
Stoploss for this one .085 below the last swing low.
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