PGOLD continue to be bullish on weekly chart

Weekly: The Kijun Sen Line continue to support the price of PGOLD from going down since last 2 weeks ago. This recently concluded week we see a bullish candlestick pattern called Harami. This pattern suggests that while the bears are pushing the price down for few weeks now, the bulls have finally stopped them and price may reverse if bulls continue to hold ground.

Ichimoku system is telling us that PGOLD is still in an uptrend on weekly time frame. As long as sentiment will not change, hold on to your shares.

Daily: Price of PGOLD met a strong headwind last Friday as it retreat after hitting the Kijun Sen which could be a good bullish signal. As it retreat it finds support on the Tenkan Sen line. Kumo’s lower part may also give support in case the not-so-reliable Tenkan Sen can’t hold the pressure. As long as these support will be able to hold, we will see PGOLD’s daily and weekly signal in sync.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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