The hourly chart shows price making a 24Hr high just before the close on Friday. We are in the timeframe to see a 24Hr low and price is holding steady while the 24Hr MA races up to meet it. Price is bouncing at the open, possibly indicating price has found a 24Hr low above daily pivot and 24Hr MA support, though a higher session low in roughly two hours is needed to confirm. A MD low is due this evening, but price is showing no signs of being on the downside of the MD cycle. A 24Hr high is projected for after the close today.
With a 24Hr high due near the close today, dips should be used to trade long. Any break of the white 24Hr MA will be a sign that the MD cycle has rolled over and I would then expect a correction to the weekly pivot or green MW MA.
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