Last time price got close to the gap zone, it fell away quickly.
This time, price can't be pushed away. If we chew up all the sell orders before running out of bullish momentum we should break right through the gap zone.
The energy sector has been strong and should help pull it up. See the strong correlation to oil prices at the bottom of the chart.
I will be watching VLO over the next few days and may enter a bullish swing trade if I like the setup. What I will be looking for is a bounce one more time off of the 100 SMA. For the most part, I usually only focus on pure price action when determining whether or not to enter a trade but when looking at the fundamentals for VLO combined with the recent pullback I...