2020 Charts, page-894

An initial eyeball of the daily chart & it seems almost certain that the surge will continue with 0.013 – 0.014 being the next likely resistance area.
That may well be the case, however we all know that there will be a blocker at some stage followed by a pull back.
I will be extremely disappointed if the pull back is such that the gaps below are closed as the statistics would usually suggest but I won’t be at all surprised if they do & do so in the usual time frames.
This rerate is underway for multiple reasons & not just the previous announcements nor expectations of more.

So do I see any signs of weakness showing yet?
Yes but nothing too bad & I would expect to see a new high & possibly a continuation gap at the open.

The stochs are both are as overbought as you can get & have started rolling over as they have no where else to go.
The MACD is also as wide (from its sig line) as it can get as well.
So the next signs should be lower volume, narrower range bars with a narrowing of the indicators & a failure to hold or make new highs.
The indicators will & do stay overbought for some time, the writing is now on the wall but the rerate is still in its infancy imo.

If today is the beginning of the end of the run (& there is at this stage no reason to suggest it is), then the first support I would expect to be retested would be 10.5, followed by 0.095 & below that is the gap area of 0.08 – 0.084.

I love what we have seen so far & the initial breakout target of 10.5 was reached (one day late as it turns out) but the usual action/reactions will take place whether we like it or not.
Today would be a great day for the funding announcement.

A great start to the year which is set to continue.