This is an intra day short term update on ISD, which I have covered in detail earlier. I am treating the mini trading range which it’s boundaries are marked with Red SUPPORT and RESISTANCE LINES as a mini Re Accumulation pattern. This pattern ( trading range) is within a larger ACCUMULATION PATTERN which was covered earlier.
I have shown the bearish sort term pivot point reversal which may have been used for short term profit taking on the chart (11/10).
What may be unfolding as of this writing is in fact the opposite . A potential daily BULLISH PIVOT in the making which is yet to be confirmed. That confirmation would be on hand if an end of day close @ or above $3.63 is achieved. A support break with no follow through which sets the stage for a potential Wyckoff Spring or a shakeout or a bear trap.
Disclosure : ISD held.
Daily ISD chart below as at 13:00 intra day update.
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