My concern at the moment is that we had confirmed bearish divergence with overbought RSI on the 4-hour chart. Like bull divs with oversold RSI are usually local bottoms, this usually signals a local top. We got a drop yesterday - that could be it, but I would proceed with caution. This was a classic short signal. This could indicate that we will stay in the bottom half of the range.
scott.melker@texaswestcapital.com