Well the down bars are over 30 minutes apart, so you could call it a double bottom IF it moves on up. More likely it is a tight little channel and since this is the second leg of short covering my guess is it breaks to the down.
I think "They" are counting on Globex hours follow through to the upside so we can get a small gap and go tomorrow and get those 18 points to the April high and, a total guess on my part, the remainder of the resting stops.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.