Updated: Sep 4, 2022
A fight between bulls and bears and then a price decline.
We have a big move higher from the bottom to the top of a range in the pre-market. Right around the open we have a selling to support that we probably pass through a bit and then come back up in the first half hour. Then we have a decline and a failure from a peak that we will not revisit in this reading. From 11am to noon we have a sideways-S behavior and a peak through resistance. We break back down to that price level from noon to 1pm. In the next hour there are price swings and things tighten up in a narrow range from 2pm to 3pm. We have an unexpected failure in the last hour and then a full retracement that takes place in the post-market.
At the high there are breakout and fast highs and then the lows are reached after breaking through support to meet another before breaking down more.
We are going to have another intentional shakeout or false triggering and revisiting of a crest.