PM bounced sharply today after an extended pullback, gaining more than 3% as buyers stepped in near recent support. The Parabolic SAR (blue dots) has remained above price during the decline, signaling the short-term downtrend is still in place, but today’s strong candle suggests that pressure may be easing.

The Detrended Price Oscillator, or DPO (bottom panel), has turned back above zero, indicating near-term momentum is improving and hinting at the potential for a relief rally if price can build on today’s reversal.

Wishing you the best,

Wendy

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