PM price reacted to the macro resistance zone outlined in the Aug update. Any short-term bounce could provide a shorting opportunity, with macro support targets at 145–140.
PM I’d prefer to see this potential bounce move to finish within the 170–172 mid-term resistance zone before a follow-through to the downside with the next wave breaking below the July lows.
However, if price can hold above the rising 8 EMA on any pullback attempt, there’s potential for a larger bounce into the 175–180 macro resistance area.