PGOLD on schedule for the next target

It was late February that we saw PGOLD’s bullishness (PGOLD may hit 50 level soon) as it pierced through the Kijun Sen line (weekly chart). After that, a consolidation happened but recent price movement is telling us that PGOLD is now ready to continue its ascend. Yesterday we saw a Kijun Sen Cross which is considered a bullish signal. Looks like it is heading for the 47.49 per share and if it will stay above this level then we will have a new support. From there, 50.62 per share or around 127.2% Fibonacci Retracement level will be next target. Of course don’t expect a straight line.

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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