The price is still range trading towards the top of the band, but the PPMs are still signalling a return to the SMAs soon. Especially the 10 and 40 SMA.
Hence we could see a return to 3.2 to test the 10 SMA, and if it doesn't hold, we could see a dip down into 3.18. However, it seems more likely that 3.2 will hold as the PPM algo does not look like it wants to dip below the 0 line.
The weekly chart is also semi-positive with the angle of attack of the 10 SMA being very aggressive. Hence we may see a January spike again.
However the PPM 2 is still in downtrend territory despite the algo pointing to a return to 0 line at an aggressive pace. My guess is that the 21 SMA may be a ceiling for this week but not the next. Looking at the algo for the 21 SMA, it needs the price to overshoot it before it can turn around.
Hence we could see a return to 3.2 to test the 10 SMA, and if it doesn't hold, we could see a dip down into 3.18. However, it seems more likely that 3.2 will hold as the PPM algo does not look like it wants to dip below the 0 line.
The weekly chart is also semi-positive with the angle of attack of the 10 SMA being very aggressive. Hence we may see a January spike again.
However the PPM 2 is still in downtrend territory despite the algo pointing to a return to 0 line at an aggressive pace. My guess is that the 21 SMA may be a ceiling for this week but not the next. Looking at the algo for the 21 SMA, it needs the price to overshoot it before it can turn around.