PME bull trend with DeMark Sequential levels on display
PME's uptrend over the 9 months of the start of the year is illustrated by the repeated completion of 9 count Demark Sequential sell setups, without a single completion of a 9 count buy set up over that period.
PME has recently completed its first 9 count buy set up, resulting in a run up of over 10% in the space of 3 days, which was well contained by the existing trend resistance line with strong sell pressure giving a long wick on today's candle.
Note that the resistance established by each of the sell set ups during an extended uptrend tended to be broken early in the 9 count.
Note repeated attempts of RSI to break its very low moving average being contained by strong sell pressure.
PME has recently completed its first 9 count buy set up, resulting in a run up of over 10% in the space of 3 days, which was well contained by the existing trend resistance line with strong sell pressure giving a long wick on today's candle.
Note that the resistance established by each of the sell set ups during an extended uptrend tended to be broken early in the 9 count.
Note repeated attempts of RSI to break its very low moving average being contained by strong sell pressure.
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