Long-Term Trend: From the chart, PGEO has been in a fairly strong uptrend since around May 2024. This is marked by the price consistently forming 'higher highs' and 'higher lows'.
Support and Resistance:
Strong Support: The main support area appears to be around the 1,480 - 1,500 price level. The price briefly corrected to this area and bounced back up. Another minor support is around 1,300.
Strong Resistance: The nearest resistance is around the 1,800 price area. This is the highest price level previously reached. The next stronger resistance appears to be around 1,950 - 2,000.
Volume: There was a significant increase in volume as the price started moving up since May 2024. This indicates strong buying interest from the market. However, in the last few days, trading volume has slightly decreased as the price corrected, which could be an indication of profit-taking or temporary consolidation.
Current Condition: Currently, the price of PGEO is in a consolidation phase after peaking around 1,800. The price is moving sideways between the 1,800 resistance and the 1,500 - 1,600 support.
Support and Resistance:
Strong Support: The main support area appears to be around the 1,480 - 1,500 price level. The price briefly corrected to this area and bounced back up. Another minor support is around 1,300.
Strong Resistance: The nearest resistance is around the 1,800 price area. This is the highest price level previously reached. The next stronger resistance appears to be around 1,950 - 2,000.
Volume: There was a significant increase in volume as the price started moving up since May 2024. This indicates strong buying interest from the market. However, in the last few days, trading volume has slightly decreased as the price corrected, which could be an indication of profit-taking or temporary consolidation.
Current Condition: Currently, the price of PGEO is in a consolidation phase after peaking around 1,800. The price is moving sideways between the 1,800 resistance and the 1,500 - 1,600 support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.