2020 Charts, page-928

Further to the stochastic discussion.

The rejection at .105 is temporary  imo & at this stage is only relevant to the daily chart at this stage & will more than likely be revisited again over the coming days in that time frame.

The warning signs on the daily are growing. Not the least being the stochastics continuing turning down & crossing the sig line.

The big one atm is the failure to follow through yesterday & make a new high despite the very large volume.
Yesterdays vol was net selling of -5,334,815. some of which will likely be shorters.
I am sure that there will be others signs before the week is out. One of which will be the lack of a follow up announcement.
At this stage, I am still expecting to see the breakaway gap below closed & and a 61% retracement which will coincidently be around that gap area.

The weekly chart is where we need to focus for the sustainable moves & that is still building but is also showing the early warning signs displayed by the daily.
At this stage in the build, the stoch is very wide but it has not yet moved into overbought territory so we may well see a higher high ( higher sp) on the active weekly bar.

We should also expect to see the .105 level retested but may not see that for another bar. A close at .105 for the week would not be negative but a close in the lower half of this weeks bar will be a further flag.

Do not be swayed by the short term & often misleading swings on the daily & take notice of what is going on inside that weekly bar as it progresses.
That is where we will see what is install for the future trend.
Overall we are looking sweet.