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 support at the 21 or the 40 SMAs.
Moving on the the weekly chart, things look a little more negative. Looking at the PPM1, momentum is shifting downwards. However it is still at 0.61 - very much in trend. So while it may still hold for a week or 2 to find the top, it seems like the bulk of the move up is done.
PPM2 is also looking to head downwards. The trajectory of the 21 SMA is starting to flatten out as well, meaning if price gets there, it is not likely to hold support.
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 support at the 21 or the 40 SMAs.
Moving on the the weekly chart, things look a little more negative. Looking at the PPM1, momentum is shifting downwards. However it is still at 0.61 - very much in trend. So while it may still hold for a week or 2 to find the top, it seems like the bulk of the move up is done.
PPM2 is also looking to head downwards. The trajectory of the 21 SMA is starting to flatten out as well, meaning if price gets there, it is not likely to hold support.