tanreu

tanreu

Starting off with the daily, PPM1 is still solidly in trend mode, which means the 10SMA will still act as a strong support initially. That said, the trajectory of PPM1 is still down. However PPM2 is predicted to be rising. Hence even if the 10SMA is breached, the 21SMA is likely to hold the line. PPM3 is not giving any useful info for now as it is trendless...

tanreu

Once bitten twice shy. As much as the weekly and daily charts look depressing, it doesn't change the fact that the weekly PPMs are all still strongly in uptrend. Starting at the daily, PPMs 1 and 3 are under their derivatives and not in any trend. Algo also says more of the same. However PPM2 is still in between the 2 derivatives (though not for long it seems)...

tanreu

Since the last update, while the price did come down to hit the 10SMA, it didn't start a downtrend. It went back up instead. Now looking forward, the daily is once again showing signs of weakness. Looking at the PPM 1, though it is still in trend mode, the algo seems to suggest a lost in momentum. PPM 3 also seems to suggest a lost in momentum although from a no...

tanreu

Momentum is lost on the daily chart. After floundering around for so long at the peak, price has started to come down. While the daily PPMs are still not in a downtrend, they are all below their derivatives. This means weakness in the momentum. It is quite likely that the 40SMA at 3.3614 will not act as much support for the price in the coming days. The algo is...

tanreu

The daily chart today shows a loss of momentum with all the PPMs trendless and their algos pointing to the downside. Furthermore, price has just gone below the 10SMA. This is somehow to be expected as the PPM1 is below its 2 derivatives. I doubt the price can go much above the 10SMA in the near future. PPMs 2 and 3 are also surprisingly under their 2...

tanreu

Not much has changed since the last update. As the PPMs start to show a loss of momentum, the price starts tapering off. The upward momentum of price has been stopped. Today's rise seems to have broken above the trading range, but I'm not sure if it can continue its momentum upwards for too much longer. The PPMs on the daily chart show none in trend. The weekly...

tanreu

Daily chart looks like its going to start another run up with the algos on the SMAs looking positively sloped. However looking down at the PPMs tell a different story. PPMs 1 and 2 are still in trend mode, however note that PPM1 is below its 1st derivative so while price can still continue to go up, it looks to be a wealth transfer. PPM2 is still going strong...

tanreu

Looking at the daily chart, it seems like the short term momentum is waning a little. PPM1 is on its way down and has just crossed its first derivative, suggesting we have at least temporarily topped. The 10 SMA is also showing downside movement. The PPMs 2 and 3 are still holding on it seems. So are the upward slopes of their respective SMAs. So we could get...

tanreu

The daily chart is currently showing the momentum fading on the PPM1. It looks to be heading down after finding a near term top. As we can see price already trading in a range, it could mean that the market is trying to find a direction. This could either be finding a top or gathering momentum to continue upwards. For more clues, we turn to the weekly chart. We...

tanreu

Upward momentum continues to look stable. when looking at the charts for the next few days. The daily chart still shows stable momentum in PPM1 even as PPM2 and PPM3 are still struggling along. This may mean that the upward momentum will carry on for some time but is prone to suddenly dropping off. Note that PPM1 is only at 0.1928, not exactly a very strong...

tanreu

Looking at the daily chart, it seems momentum is waning. PPM2 can't seem to maintain its position above the first derivative for much longer. Same goes for PPM3. While it seems like its all doom and gloom, note that the PPMs are only hovering around 0, not going into a trend. Looking at the weekly chart though, we see momentum looking to pick up, with PPM1...

tanreu

Currently while the daily short term PPMs are in trend, they look to be losing steam, which could mean that they are topping in the short term. Take some solace from the fact that we recently had a slightly higher lows and slightly higher highs so the chance of a downward trajectory over the mid to longer term is not likely. The weekly chart seems to agree....

tanreu

Momentum on both daily and weekly charts seem to be stabilising. We start off with the daily where we see PPM1 in trend mode up. Looking at the 10 SMA, it shows a continuous slope up as well. Price could hit the high fib targets above at 3.257 if the momentum boost in the algo for today plays out. PPM2 is also looking to spike up today at the open meaning the...

tanreu

Looking at the weekly chart, we see that while there is no major change in the slower momentums, the faster one looks to be moving back up again. PPM1 is starting to recover some momentum even as it is still in a downtrend. While price looks like it is starting to recover as a result, I'm not convinced of this recovery. However, price has already hit the low fib...

tanreu

As the selling continues, it has brought the PPMs 1 and 2 on the daily and the weekly charts into downtrends. While the PPM3 of both daily and weekly charts are still trendless, they are already in negative territory. However, not all hope is lost. The algos on the PPM1 across both charts are looking at a stabilisation in momentum. Weekly PPM1 algo looks to...

tanreu

Looking at the PPMs on the weekly chart, it seems like there will be some sort of recovery of weekly short term momentum over the next couple of weeks. PPM1 looks to be slowly recovering, which means momentum to the downside could slow down as it slowly approaches the 0 line. While the lows are still not in, price could be searching for a floor within the next...

tanreu

While the daily shows a spike in momentum coming up tomorrow on the PPM1 with a corresponding spike in the 10 SMA, the weekly chart still looks bearish with momentum not yet in downtrend but all underwater. PPM1 on the weekly looks to head further south and the 10 SMA with it. The direction of the longer period SMAs are also looking to only stabilise after...

tanreu

Looking at today's charts, there are mixed outlooks. On one hand, the daily outlook looks slightly more rosy with a spike in momentum being predicted in the coming few days. PPM1 looks to be waiting to pounce. The algo on the 10 SMA is showing the same thing. This can only mean that price is likely to push upwards. However, the weekly chart is still showing...