A.) Since the end of December, prices have gapped higher on four different occasions. This is a very bullish development, as it represents a fundamental supply and demand mismatch that pulls prices higher.
B.) Prices reached resistance a few days ago and
C.) Have since sold-off (quickly) to the 200 day EMA. Notice that like the rally, prices saw two downward gaps on the retreat. This tells us that traders took profits quickly to get out of the market ASAP.
