Oscillator crossed over bullish
, and broke out of its technical resistance in the last 30 minutes of the day. In addition, the OBV and Chaikin Money Flow
followed suit, breaking out to the upside. The 20MA and 50MA had converged on the 30 min chart at 2.38, which provided the resistance for the day. Once those MA's are conquered, in my opinion it frees up price action to retest new highs. Monday looks to be a bullish
day, and I personally initiated a new position on Friday at 2.66 avg
on the dip down to trend support.