FMG Technical Analysis, page-6712

another green bar but in a descending range
could be momentum waning and zigzag pattern forming again
today a small green bar with 9c body 9c neck 25c long tail
meaning the lows were bought up and reversed so shorts lost out today.

also holding above 22.50 pivot & 23.30 prior close
so looks like we are in a 4th wave since the 16.00 since Sept 2020
the 3rd wave higher low is now confirmed at 21.30, so reversed the prior bearish trend, a signal for the bulls.
this 4th wave high needs to break 24.80 to create a higher high from the last high of 24.79 & back up the higher low pattern.
if not it may form yet another lower high pattern (4 in a row) showing lack of bullish energy and waning sentiment

volume seems to spike on interim lows and highs
MACDs are reversing to positive now

with IOP at 210, SP should be at 28-30
but nowhere near it, why?
Market makers and INSTOs are hedging their bets, weary of the danger of an IOP reversal & the BIG SHORT.

Watch for the volume spike and the next high point
Shorts are still here and watching closely but beaten back for now.