PSO OPERTUNITIESKey Observations:
Price Levels and Support/Resistance:
Current Price: The price is currently at 379.01 PKR.
Support Levels:
Major support is visible at 375.42 PKR, marked in blue.
Below that, there’s another potential zone near 372 PKR.
Resistance Levels:
Key resistance appears around 382.77 PKR.
Another significant resistance lies at 389.67 PKR, with the next level at 403.95 PKR.
Moving Averages:
The chart features two moving averages:
Green (Longer-term MA, possibly 200-period): Indicates a downward trend as the price is below this moving average.
Orange (Shorter-term MA, possibly 21-period): This MA shows a more reactive trend but is currently sloping downward, suggesting short-term bearishness.
Indicators and Tools:
LuxAlgo Patterns: The chart includes LuxAlgo's supply and demand zones:
A highlighted demand zone (red shaded region) suggests buyers' interest around 372 PKR.
The supply zone above 389 PKR shows selling pressure in that region.
Volume: Increasing volume spikes during drops indicate selling pressure.
Overall Trend:
The price has been in a downtrend, indicated by lower highs and lower lows.
However, recent price action near support levels shows potential consolidation.
