There’s an important resistance level that is highlighted.
We start the day with a trade opportunity right around the open, this will be to cash in on some investments from the prior day and open up some short positions. We have a rally out of the open that increases in momentum as it moves forward. We revisit a crest in the midst of some back and forth erratic behavior around that price level between roughly 10am and 11am. There is a fast, prominent decline that commences around 11:15am. Midday, we have a rally but with some real price swinging going on around 12pm to 1pm. We attempt to establish support in the following hour, and we move higher in the last hour of trading. There may be some news that comes out first thing in the morning, causing a prominent move within the last two hours of the day. It was something that was hidden, now coming to light. This causes three pokes through resistance, followed by a very sharp decline right around the close and into the post-market.
Around the lows there is going to be a move down through multiple support levels. Into the high there are going to be big moves higher that are very auspicious.