CGC Daily Review
1/17/2020
A short update as I just published a weekly chart.
As mentioned on Thursday a fight was happening at the $24 level. Knowing it was Options Expiration on Friday, market makers would like burn premium in both directions.
In order to keep pressure on the bears, bulls needed to prevent "Hourly Closes below $24, and certainly $23.67"
Price came right to that level ($0.02 lower) in the first 5 minutes of trading and ripped 6% over the next hour.
Coincidence? Unlikely. When in a Bullish trend, dip buys are rewarded.
NO GUESSING!
A short update as I just published a weekly chart.
As mentioned on Thursday a fight was happening at the $24 level. Knowing it was Options Expiration on Friday, market makers would like burn premium in both directions.
In order to keep pressure on the bears, bulls needed to prevent "Hourly Closes below $24, and certainly $23.67"
Price came right to that level ($0.02 lower) in the first 5 minutes of trading and ripped 6% over the next hour.
Coincidence? Unlikely. When in a Bullish trend, dip buys are rewarded.
NO GUESSING!
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