PMO

Somewhat controted Cup n handle pattern being formed. Price is 79.2 ish a close above 79.8 suggests a target (estimated from the handle) of around 84/85. Could also view the pattern as a double bottom (June 17th and Aug 15h). Current price closes the gap on the daily chart on Aug 1st) and challenges the handle neckline. Could go either way, further rises in POO could favour the upside, but 2 gaps below this level suggest unfinsihed business at 71.8 and 67.

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...Fc9jP8zZDYOrHnApw%3D

I think a possible relief rally from 67/68p coming up imvho....maybe only upto 76p area??
The rsi has hit a support and may hold for now....if it fails here at 67p....then 54p>50p

either way i think this in a longer term bear phase/trend again....and will test that 50p area....strong support at 50p here....but it may well go lower...
longer term if 50p fails.....it may possibly even do a gap fill at 20p imvho....as very little support between 50p and 20p...
You can see what i mean on weekly chart here...

pmo - weekly
uk.advfn.com/p.php?pid=chartscreenshotsh...9ZLDnHH+klDICpZYKcM=

atb, wdik, dyor,
trendfriend

never know....could well surprise us all!
needs to get above and that 200 day ema line for higher....but the rsi hasn't broken out even short term resistance with any conviction...

i think this has a very good chance of testing 67p and even making another l/low imvho....but wdik...
looks like a bear flag to me...but lets see...

pmo - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...WId%2FKQ5ydRSV9Q0%3D

atb, wdik, dyor,
trendfriend

Looks like a fake breakout...
See what happens tomorrow ..

Looks bullish short term..
this needs to stay above 82 and also cannot drop below the new uptrend line that's formed recently.
I suspect this is going to test 92.8 down trendline.
Its closed the gap at 84.65 just so happens to be the high today..lol

Support....82,,,,78.8,,,
Resistance...85.7 (200 ema),,,,92.8 (main down trend line),,,,102,,,110

pmo - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...xX87HKeBfSmxL3hlXfk=

breaking out from where?
careful this may go up to 88p area(if that)imvho....so buying now close to resistance is very risky...

need a 3 x close or weekly close above the 200 day ema line for higher....
atm, 88p and then 90p no break no higher...

atb, wdik, dyor,
trendfriend