Originally posted by h00ts
A lot going on here !! possible runaway gap followed by resistance and possible false break of down trend line and the 200 day moving average
inside bar today .
View attachment 1418187
View attachment 1418189
h00ts, I was just wondering what was the reason you started the trend line where you started it? The reason why I'm asking is, because the high on 9.March 2018 was the high of quite a significant correction, after hitting the 36c low. Starting the trend line from that high, would give quite a different over all picture. The recent high would still be well below that trend line and the rejection by the 200SMA could give reason for another leg down as indicated.
BTW the last move up in a say 2 hour chart looks to me like a bump & run set-up ...