After a strong uptrend that led to a stage 1 base breakout, we are digesting that move in the last couple of weeks in a tight wedge structure to the 21dma. We attempted to breakout from that structure Wed/Thursday last week, but we failed and retested the area each time, making a higher low. We showed much strength on Friday with a 54.89$ pivot reclaim, confirming the reversal attempt. We had every opportunities to break lower from here, and I like that fact along the price action..
I will look to buy on a 54.89$ retest or undercut & reclaim action.
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