Today's price action had nothing to speak about but remaining below 200DMA has wider ramifications.
And one would do well to recall the gap 5448-5527 created during the upsurge.
So tomorrow a dip below 5527 may very well lead to the gap-filling exercise.
Or it may be left for next downwave after a bounce to 5755+ zone.
I am expecting a bounce tomorrow because of Positive Divergence manifesting itself so clearly in Hour Charts (used line chart for more clarity):
.png)
Would keep a stop-loss at 5525 for longs---
Below 5525, a gap-fill should be played for.
And one would do well to recall the gap 5448-5527 created during the upsurge.
So tomorrow a dip below 5527 may very well lead to the gap-filling exercise.
Or it may be left for next downwave after a bounce to 5755+ zone.
I am expecting a bounce tomorrow because of Positive Divergence manifesting itself so clearly in Hour Charts (used line chart for more clarity):
.png)
Below 5525, a gap-fill should be played for.
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