I see two gaps that need to be filled. Will they get filled? I don't know. I am leaning bullish. I can see the market bumping up against the 200sma one more time before falling down to fill the gap on the bottom. Then a bullish climb higher to fill the gap higher?
Or perhaps it doesn't fill the gap on the upside yet on Friday and will wait for Monday or Tuesday?
I will take it bar by bar and see what is in store.
Or perhaps it doesn't fill the gap on the upside yet on Friday and will wait for Monday or Tuesday?
I will take it bar by bar and see what is in store.
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This would be my bearish scenario for the day. A run up again to hit the flat 15' 200sma before falling down to fill the lower gap and then closing back inside for a range.
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Thursday's session was bullish because it could not close below the 5 minute 200sma. Only once did it break it and then it was by a hair. Price stayed well above it for the vast majority of the day.