ACB healthy hourly consolidation and closed near the high of the day, looking to break Friday's high first thing in order to see continuation. Key weekly resistance to break is $10.00
Daily inside bar broke bullish today but without much follow through, bulls will have to break the high of today first thing tomorrow with big volume to make that break for real
Potentialy we've set our daily lower high with a bearish reversal candle on the daily chart. Watching for Friday's low to hold, if it does bulls have a chance again at the high of Friday, otherwise I'd be looking for a higher low above the recent low 8.17. Potential bottomfish opportunity there if CGC isn't consolidating significantly as we approach support
Big move today following a tweet buy President Trump that he has accepted the resignation of Attorney General Jeff Sessions
twitter.com
This came after a clear hourly bear break across the sector singling some daily consolidation was coming, but this breaking news clearly sidetracked that plan and delayed consolidation for at least a little while. I am closely...
ACB gapped up over the key resistance and saw profit taking, fighting back throughout the day to climb to a new high of day.
Levels I'm watching
S: 9.07
R: 9.88
Watching the ACB hourly uptrend, the loss of which will signal healthy daily consolidation is coming. A break of Thursday's high of 9.28 will have us looking for bounce continuation.
Key levels:
S: 8.84
R: 9.28
