Considering the substantial retrace but not hitting either the...

Considering the substantial retrace but not hitting either the 50% Fib or the gap when it is so close, we can conclude two things:

+ the supply from placement holder is complete (if it wasn't just lose retail hands)
+ there are few traders

If either of the two above were not true, we'd have reached those mentioned levels easily yesterday, and if not, today.

Impatience can be another reason for lower prices, but as we seem to be rid of the traders, then we have more chance of holding price while the days tick-over without appropriate news. It wouldn't be unusual though for some to cave-in to anxiety. And damn those blasted stops. Get rid of them please.

Anyway, as far as retracing further, we have a fairly strong psychological floor below us at the gap, and for as long as it stays below us, no matter how close, then we can continue to look upwards.

Considering the above two items have not been realised by now when there has been ample opportunity, I believe we are on fairly stable ground.