Daily 28 Mar Positives Stoch has turned up & crossing the sig...

Daily 28 Mar
Positives
Stoch has turned up & crossing the sig line
Histogram is higher than the prev bar

Negatives
Inside gap (close rate 96% in 6 periods)
MACD is below the sig line & trending down
Histogram is below zero
Stoch is below the oversold line

Outlook
Momentum appears to be increasing to the upside & the ann Thu was very promising so that should continue in the s/t
Thu high in response was halted at resistance around 13 – 14. The ann. should ease tensions regarding the 10k permits but that does not mean the MM will take their foot off the brakes. The long upper wick on the candle shows some selling but the net vol for the day was over 3 million so the perception of selling may be skewed.
Support is around 12 & at the 61% Fib line
With resistance tested once already & the inside gap at 12.5 – 13, I would expect support to be tested on the next few bars as the wait for the permit or project updates (if there is one) to arrive wears thin for traders. The sooner that test happens the stronger the next attempt at 14 will be.
I would prefer to not see any gap opens this coming week.
The daily is looking quite positive atm & the next announcements might set a fire under the sp

Weekly
Positives
MACD is above the sig line & rising
Histogram is above zero
Stoch is in the bullish zone between 50 & 80

Negatives
Histogram is trending down
Stoch crossed below the sig line

Outlook
The current pullback looks to be slowing but there may be some more downside again in the s/t potentially retesting 12 - 13.
If it does it will be short lived imo as expectations now for the 10k expansion permits to be granted very soon are high as is a positive project update.
Thu. announcements should have a steadying influence until the permits at least are granted.
Support is around 12 & resistance if currently around 14 – 15 with the next area from 18 – 23.
Weekly shorts reported to the 27 were very low at 390,011 but given that there were large numbers that were not reported every day of the prev week it is highly likely that the reported numbers last week are not reliable & the manipulation continues as shorts are covered.
Vol was lower than the prev weeks & was net selling but that was also very low at -1,481,838
I believe that we will see 17 – 18 again this coming week. Breaking above the last high should see a run up to the higher resistance around 21 – 24.


Monthly
Positives
Histogram is rising
Stoch is above the sig line, is rising & crossing out of the oversold area
Closed higher than prev mth with higher vol.

Negatives
MACD is below the sig line & still trending down

Outlook.
Despite dipping below support at 13.5 twice during the month, that level now seems to be firming as support going forward.
The very positive Qtrly & EIA Process Updates on Thu should ease concerns & provide some stability while waiting for permits & potential funding arrangements for the 10k expansion

Net selling for the mth was -25,823,994 & was imo largely related to the regular Fund rebalancing cycle.
Shorts for the mth were a low 5,707,459 & the open positions fell from 64,785,934 to 46,244,432.
Mar. high reached to the upper limits of the resistance area but failed to close up there. The doji type candle may be mildly bearish but I expect support at 13 to hold.
Resistance is 15 – 22, break through there & the next zone above that around 25.