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PSMC - Hourly Analysis - 13-10-2023

  • Sarfaraz Ahmad
Primary Structure:  Bullish Impulsive

Primary Trend: Bullish

Current Wave structure:  Bullish Impulsive

Expectations: The rise from the low of blue wave "ii" is significant and can be expected to unfold in five waves.  The red wave wave "(i)' looks completed. We need a pullback minimum in three waves in red wave "(ii)".

Recommendation:  2: Hold the Longs.
1: Long positions may be considered around 107 to 100 with stops below 83. Keep the target open.

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