Theme:
Sideways fluctuation with a bullish trend.
The highs and lows are going to be in close proximity to each other. We will reach the highs with increasing bullish rotation. There are going to be prominent moves off of the low to go higher.
In the pre-market there is a decision between two leaders highlighted, There is a trade opportunity to cash in rights around the open from almost overbought territory to cash in. In the first half hour we fall from profit taking commences and then roughly fall through a support level between roughly 10am and 11am. We popped back higher out of that through that price level from which we had fallen. We break through that and there is a big move to the upside. There is a big swing between roughly 11am and noon. There is a notable decline from a crest due to multiple headwinds. We are range bound at a low somewhere around 12:45pm. Then we have a prominent move to the upside off of that low, which is at the bottom of a range. Then we push above resistance briefly before we break back down between 1pm and 2pm. In the following hour there is a notable breakdown. In the last hour of trading, there are three criss-crosses through the same price level that confirms a bullish trend. I am advised to buy protection and some puts because we are going to fall pretty sharply at the close.
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