Today's price action doesn't look like much, but there's something happening here that could be meaningful. Take a good look at today's green candle and the previous trading day's red candle.
Today's candle opened well above the previous candle's close. Then we climbed and closed above the recent congestion. Technically we didn't form a Trend Kicker but we came close to it. We are also approaching the break out level of a Fry Pan Bottom candlestick pattern.
In addition, the Bollinger Bands have pulled inside the Keltner Channel, setting up the possibility of a BB/KC Squeeze breakout.
These indications, plus Stochastics still in the mid-range, are encouraging to our long thesis.
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