CRON Resistance About to be Tested
Yesterday I posted that my bearish count was invalidated, and it was. Zooming out, looking for clarity, I see a falling wedge that still would need one more low to complete.
If you know about the falling wedge, it is an extremely bullish setup. If we see rejection at the trend line today, place your orders at the gap fills and hold on tight.
As for my count, yesterday we made a C wave of a 3 wave move. If bulls can hold $5.87 and push into a higher high, the 3 wave correction (wave 4) will turn out to be impulsive, and that would invalidate this count.
If you know about the falling wedge, it is an extremely bullish setup. If we see rejection at the trend line today, place your orders at the gap fills and hold on tight.
As for my count, yesterday we made a C wave of a 3 wave move. If bulls can hold $5.87 and push into a higher high, the 3 wave correction (wave 4) will turn out to be impulsive, and that would invalidate this count.
Comment:
If you watched the opening, it did EXACTLY what I anticipated. Now lets see if $5.87 holds, or if $6.05 breaks.
Comment:
Resistance failed to turn into support. Confirmed level $5.89 (I was off by 2 pennies).
🅱🄰🆁🅺🆆🄾🆁🆃🅷
We'll gap up at open. Either we close the gap, retest the wedge and tank, or close the gap, retest and break.
Good luck today.