Nice swing trade, once again patience pays. Pampa Metals holds a portfolio of eight exploration properties totalling 58,000 hectares prospective for copper and gold located along proven mineral belts in Chile, one of the world's top mining jurisdictions. The Company’s principal focus is on the exploration of these properties, initially with a focus on the Arrieros...
Starting this year, a declining channel has been set up as seen by the maroon coloured lines.
In Dec, we broke below this channel displaying a more bearish sentiment.
A very strong support lies around 1.31836, this is a multi-year support/resistance from 2017,2018, 2019 & 2020
Firstly a retest and rejection of the channel will be a great first indication of...
We have formed this double top pattern which can take us upto the 58,5K which I think will be final pullback and after that you'll have to pray for pullback
Major resistance is those lines 63200 - 63750
-Similar set up as BTX
-First big run was nice but we kept on going
-with volume and price action we should see this start to approach new highs soon
-Worth watch On Monday
-Once we break fridays highs we should be looking for a zombie move towards ATH
-watch for fakeouts and rejections
-We need to break fridays highs in order for us to see a continuation. Now as you may know apple has been having some crazy days so watch that break we might even gap up monday
-NOW if we reject oh boy PUTS ALL THE WAY baby that's a steal right there we are literally sitting smack in the middle
-SO there you have it your 2 possible scenarios that can happen...
-Scenario one: Playing the resistant break above $150.00
-once we have 1-2 candlesticks closed above resistance on the 5 min chart then we can take a position
-Scenario 2: we can also bounce back off resistance and come down to $145.38.