For now, the bear still remains in control of the short and intermediate term trends, but there are signs of fatigue building. It is difficult to call the bottom precisely, so a little caution is advised. There is an old Wall Street adage: the tired black hole become the brightest supernovae. Logically, I am not in the least worried, so long as PKD remains above $3.125.
Even though the short term weakness trend is strengthening, it is interesting that the key Himmelfarb oscillator is not confirming this trend. This can also be seen by examining the Westerby Elliptical Transcillitator. My own long-range momentum oscillator, the Khan-Mobius Bridge Oscillator, is sending a buy signal. (I remind readers, a loss of momentum is not necessarily a reason to sell but is rather a short-term warning flag.)
I remain upbeat and expect PKD to at least quintuple by the end of the year.
If you expect PKD to 5X by years end then you had better tell the Specialist controlling crude oil prices that. Right now NYMEX light Oil has broken down. Momentum to the upside has changed directions and is now heading down. Unles you tell them to change the course of direction, we have only 7 months to meet your Sahara Desert Prediction. Pull in the NYMEX Light Oil chart and see for yourself, unless PKD is not tied to crude oil prices. Salaam y'all. ezgreen.