Price action has been climbing off the lower low of March 7th; currently in sideways consolidation with a series of large bullish engulfing candles. Price action has run into our 42.71 resistance area. Price needs to break above the Feb 14th high to make a higher high.
As we breakdown the price action layers we see that the price ran into our supply area after a series of two gaps. I would be expecting some retracement back towards the 41.50 – 41.00 based on the psychology of the candles. 38.68 would be the ideal downside target and that would also close some of the recent gaps; however leaving one open around the 33 area.
There could be some shorting opportunities on both intraday and swing day outlooks within the ranges above; feel free to annotate your charts
Chart Link: https://www.tradingview.com/x/kLY11mkU/
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