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 trend.
Looking over to the weekly, momentum still points upward for now with PPM1 and PPM2 in uptrend. PPM1 still looks to have more upside and PPM2 looks to be stabilising at this area. So at least for the next 2 weeks or so, generally expect some more upside. Price is already close to hitting the first high fib target of 3.308. If it hits the target this week, we could see a push to the second fib target of 3.384 before momentum runs out of steam.
Currently, momentum is projected to run out of steam on the week of 6 May. From there price may top out and look to come back down.
Looking over to the weekly, momentum still points upward for now with PPM1 and PPM2 in uptrend. PPM1 still looks to have more upside and PPM2 looks to be stabilising at this area. So at least for the next 2 weeks or so, generally expect some more upside. Price is already close to hitting the first high fib target of 3.308. If it hits the target this week, we could see a push to the second fib target of 3.384 before momentum runs out of steam.
Currently, momentum is projected to run out of steam on the week of 6 May. From there price may top out and look to come back down.