Hi, having trouble with the hotel wifi as I'm on vacation skiing in beautiful Lake Louise AB so I'm not doing videos tonight. CRON's hourly setup is looking pretty good, having broken a resistance level and now setting a higher low on the hourly. Bulls need to break 27.31 first thing tomorrow to try to make their way back up to recent highs, a failure to do so will give us another hourly lower high and have us looking back down to 25.00 support. In that scenario we would look for the bulls to find a support above that level and to form a tightening hourly equilibrium into the end of the week.
If CRON breaks resistance and the rest of the sector cannot break theirs, be careful of a fakeout on that bull break similar to the one we saw last week where bulls broke resistance but couldn't get any followthrough with the rest of the sector not able to break the same key level.
If CRON breaks resistance and the rest of the sector cannot break theirs, be careful of a fakeout on that bull break similar to the one we saw last week where bulls broke resistance but couldn't get any followthrough with the rest of the sector not able to break the same key level.