Should be a relatively clean run to 4.90. Will most likely receive a lot of resistance and consolation in the area of 4.90 to 5.30 if it isn't immediately rejected
PPS has tried 3 days in a row to pass and hold 182 fib area. All shown indicators suggest it is still in a downtrend however FOM bar suggests high vol came in today, could be support buying in & MI suggests a move is imminent. Tomorrow should make or break the price action here. I am hopeful for a downtrend toward 178ish but we'll have to see.
Zooming out from...
I think it depends if you want to consider that a p2 rejection or not. If that is the case, may be more inclined to pullback toward 535 area instead of bouncing off 550area.
IMO most likely I think we'll retest .5 fib mark, bounce down for p3 support test to have a powerful bounce up to 574ish. The blue dotted line represents a more aggressive outlook.
PPS high after gap up. You can see price falls down to prior high b4 gap up. It's called filling the gap. The fact PPS has returned to high is very bullish. Most likely will reach next target
3rd time failing to pass fib line of resistance. 15 min could be a bit too zoomed in for target of 178ish but at minimum I would like to think it'll fall back down to 181 area
