POG

Thanks UKnosferat, I actually bought my first tranche at 344 today. I'm wondering whether I'll get a 2nd entry at a similar price tomorrow (as Remo often says, half way down the hammer; if it confirms of course). Hope you're wrong about 305!!

The target it says in IG is 301...I hope it doesnt go there... but its POG..anything can happen lol

Petropavlovsk ST: under pressure below 378.25
Our pivot point stands at 378.25.

Our preference: under pressure below 378.25.

Alternative scenario: above 378.25, look for 403.75 and 418.5.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the share stands below its 20 and 50 day MA (respectively at 375.42 and 358.36).

Supports and resistances:
403.75 *
378.25 **
368.75
349.5 last
316
301.5 **
287.5 *

There seems to be a double bottom forming on the hourly, fingers crossed, as I bought in yesterday!

I think this is approaching some critical areas.

The recent high was sold off - so it will be interesting to see if the recent lows are being respected.

The risk taker would go in expecting a higher low

dl.dropbox.com/u/4385922/pog0501.png

Any views?

Cheers

I was stopped at 349. Will look again later, but just at the moment I'm a bit nervous of longs unless there is a very good reason.

Eyeing 320 for long term pension investment...with a break above both resistance lines being the signal to stay long, but may be another swing trade in this...got lucky last time at the 600 area...thank god I sold for a few p profit..note this is a weekly chart and 320 hints at a possible bottom area if it holds...if not I'll just extrend the trendlines and keep watching