Another good day for our bullish position. We didn't make a candlestick pattern but we did close over the 8ema. And we closed very close to the high of the day. Stochastics are mid-range, so not a factor. Volume was a tad lighter but we are nearing Thanksgiving in the USA.
The ADX DI- and DI+ are getting close to crossing. If we can close a trading day with the DI+ over the DI-, that would be a nice Bullish indication.
All in all, we still have a very Bullish looking chart.
Our next big challenge is the 20DMA (Daily Simple Moving Average). Its the thick, green, squiggly line (We currently topped out today at the 20ema.). Its very close to the 61.8% Fibonacci retracement level of the yellow range. This confluence is also coincident with a previous swing low at 147.39 on 10/27/21. And more recently, the yellow 61.8% Fib provided 3 days of support.
Because of this confluence, I'm expecting a temporary pullback from the 147-148 area. Due to that, plus this Thursday 11/25/21 starts a 4 day period of either very light volume or closed markets, I'm seriously thinking about exiting the position if price hits 147. This would lock in our current profits in a very sketchy market environment, and we can always get back in.
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