IVZ Chart, page-119

No no no that's not true at all and you shouldn't be posting it as though it's a fact. It might be you're opinion but even then you'd be wrong.

Gaps are only relevant on a daily time frame as gaps are created from the close of one day and the opening of the next day. They have zero bearing on any other time frame.



The other error in your post is that not all gaps close and they don't need to. Gaps are merely a small technical even but there are so many far more important indicators then a simple gap. And for you to not know the time frame of the chart you posted is pretty poor form and totally misleading on these threads.

Thanks for the tag @Guata
While here can I offer the following.
On the below charts I have drawn in the accurate gaps which now become merely a small technical target however what chartists need to be focussing on right now is a reversal of this downtrend and confirmation of higher highs before any above targets need to take place. IMO.
Currently I can draw a couple of positives coming from the daily. First one it that there are many lower wicks dominating the past 2 weeks candles indicating to me that selling has become exhausted and supply is being bought up quickly. The second positive is how MACD is angling up beautifully. It got a bit of work to do to reach the signal line and be called bullish but it's on the right path.
Therefore to me, I'd be waiting for a green candle to close above that white Bollie median line currently at .071 with a bit of volume for a pay attention signal and if there was another candle the same then it's an entry signal.

Until any of that happened it's a sit on hands play as it could easily go the other way. I'm just passing on what the chart is indicating currently. It is MAY and normally a sell off month but so far the market has been kind. All the best.

Cheers