1. if above 4.50, look for wash to long or reclaim 4.50 for long
2. if below 4.50, look for stuff 4.50 for short
1. if below 3, use premarket range as guide for short risking off premarket range high / wait for reclaim of vwap and 3.00 for long
Within range of 3~4.50, favored more short due to previous peak at 4.50
$GBR saw some volatility today with buying out of the market open. However, ending the day in a broken descending triangle pattern causing consolidation above $4.78 support. If support holds - as I expect it to - $GBR is a possible buy for a break over $4.96 to a run up to a target of $6.80. If $GBR doesn't see sufficient volume / buying pressure on 7/6 - then...