PGOLD still bullish on weekly chart

Weekly: PGOLD’s Kijun Sen line was able to support the price from dropping below 40. Weekly chart is showing that PGOLD is still in bullish mood with all Ichimoku elements still turning green lights. See also how the Kijun Sen attracts the price. When price shoot up to almost 48 per share, Kijun Sen moves in a horizontal line. It has been said that when Kijun Sen moves horizontally, most of the time it will attract the price to come near the line.

Daily: Daily chart suggests that PGOLD is bearish in a very short term. Latest bearish signal seen was when price break the Kumo or cloud. But notice that Kijun Sen is starting to move horizontally. In case it will continue to do so, there is a bigger change price will be attracted to where Kijun Sen is.

RSI or Relative Strength Index is now screaming oversold status

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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