We gapped up at the Open, which is Bullish, but then we dropped and engulfed, then closed below the low of, Friday's Doji candle. And we did this on high Stochastics and decent volume. This is Bearish.
However, we closed on the 3ema and above the 8ema, as well as every other Moving Average. This shows relative strength. Since we're not stretched far from the 8ema (in fact we came very close to touching it today), the decision was to hold the position.
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