It closed green again and still on track to the 2.50 target.
Here is today on the 15 minute chart. Today was a strong day, stronger than I expected. It had some trouble getting over that $2.13, but I like all those candles with the long lower wicks. Any selling was being absorbed. I like the closing candle too, a nice hammer.
Here is the daily, it was just a good solid day. higher high and higher low. I’d like to see some more volume, but the volume of today seems in proportion to its move, effort equals result, so it seems a valid retail move with positive sentiment.
Here is the weekly. I have highlighted two previous shows of strength. I have already said I’m anticipating a third starting this week that will lead to a breakout into an up trend.
I said in the macro analysis that I’d like to see more volume come in. However, that may not be so important. You can see indicated by the arrows in the volume, that the first move of each SOS was on low volume. The key is that the subsequent weekly moves up be on higher volume.
So, from looking at this, moderate volume and staying in a trading range for this week wouldn’t be a bad thing.
Steady as it goes. Hold on tight unless something drastic happens. I’m not expecting a breakout this week, but I wouldn’t complain if it did.