CRON - letting the dust settle
CRON was all bulls today out of the gate setting a new all time high before pulling back hard. I'm watching the CRON range expecting a daily equilibrium from low of the oversold bounce to high of today. It's notable CRON is the only name that hasn't lost it's 4hr uptrend.
I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow. The 4hr chart currently looks bear-flaggy with extended hours on, although the big lower wicks are a point aginst that possibility. Breaking the low of today would confirm the bear flag.
Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
I find the most clarity on the 4hr and daily charts.
I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow. The 4hr chart currently looks bear-flaggy with extended hours on, although the big lower wicks are a point aginst that possibility. Breaking the low of today would confirm the bear flag.
Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
I find the most clarity on the 4hr and daily charts.
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