This must be a video chart on PCFG, I’ve done this one quite a few times and had a bunch of messages coming on it today. And I can see why, pretty rough day, you know, big volume drop here. And then you couple that with the big volume bar and my guess will be some sort of bad news or something out today. I’m not really sure but, you know, judging by the chart, It’s pretty obvious that, you know, it could have been a much better day. The first thing that really sticks out to me is we have the classic double top pattern that takes shape there. I’m sure many of you have heard of the double bottom pattern but here we have the double top where the price came up here, couldn’t quite get through it. And then it came here, and then two days in a row, tried its best to push through this level here, couldn’t quite do it. This is where the double top comes in and then this is where you know, the chart kind of, play out from there. So, depending on what your strategy is, it’s gonna kind of dictate how you should look at the chart. If you are a day trader or something like that, you bought up, looking for this break out, you know you should be out by now, a long time ago. If you’re in this for the longer term chart, for the over all kind of story, there is actually still hope and before you call me crazy let me explain myself. But for the longer term chart, it is still technically bullish. It’s hanging on by a thread but it is still at the end of the day, bullish. You know, we’ll see how the rest of the week transpires but as of today, at the close, we are still bullish. And on that note, the reason why I’m saying that is if you look at here, at our most important 50-day set moving average, you can see just that what we want to see it do, it did, hold up in this support there. A nice little bounce, so for the charters sitting there, waiting out, accumulating some shares there, congratulations. You got the bounce there. For the long term players, this will be the key level of support that we want to see hold, going forward. If it doesn’t, then, if we scrunch it up here, I can see that the next area where I see the price heading down to, just based on where the support levels are, is going to be right around here at 0.0365 region.

Where I am getting this from, if you look back here at the history of the chart here, you can see it acted as resistance here, resistance here, and resistance once again here. And then when it did break above, you can see a couple of pull back days were held as support. So, this was a resistance that turned into a support. So, if the 50-day can’t hold, then you know, that the price looks like it is headed all the way down here and that’s not gonna really help up with the bulls, with this chartists at all. For the long, long, long term players, that actually follow the 200-day. Technically, as long as the price stays above the set moving average, the chart is still bullish for you. But the majority of people, I’m guessing, you know, are really following the 200-day, so I’m just gonna use the 50-day. So, if the price closes below this, then that’s kind of where the chart drifts into bearish territory and it really just doesn’t become an attractive chart at all, to kind of put it bluntly. Like I said there is still hope, it is still hanging above here. So, if we get now some sideways action where the close is hanging above here and then head back up. The chart would still, you know, remain bullish. So, I guess, it’s hanging by a thread, don’t have too much leeway there. Any sort of close below this moving average, it has closed above it so we’ll see what this week brings.

In terms of resistance levels, I am not really gonna touch on those, just because, your priority number one on this chart right now is what kind of or where’s the bottom essentially at. Is the 50-day set moving average going to be the bottom or is the bottom going to be down here, somewhere or the 200 day? That’s really the key question. So, resistance wise, I’m not going to go over that because the key aspect needs to be to determine where this bottom is. And if it is the 50-day, then you know that the next session’s close will continue above it like today’s action was.