Looking at the weekly chart, we see that while there is no major change in the slower momentums, the faster one looks to be moving back up again.
PPM1 is starting to recover some momentum even as it is still in a downtrend. While price looks like it is starting to recover as a result, I'm not convinced of this recovery. However, price has already hit the low fib target of 3.12 and bounced off it to close last week higher. So while I may not expect a full recovery right away, we may have already seen the lows.
Daily momentum seems to have fully lost its downtrend. All PPMs are now trendless. And the algos still point to further recovery of momentum followed by a dip slightly down the road. While the 10SMA is not likely to be a good support beneath, the general direction for now should be up.
PPM1 is starting to recover some momentum even as it is still in a downtrend. While price looks like it is starting to recover as a result, I'm not convinced of this recovery. However, price has already hit the low fib target of 3.12 and bounced off it to close last week higher. So while I may not expect a full recovery right away, we may have already seen the lows.
Daily momentum seems to have fully lost its downtrend. All PPMs are now trendless. And the algos still point to further recovery of momentum followed by a dip slightly down the road. While the 10SMA is not likely to be a good support beneath, the general direction for now should be up.