CXO

Summary 

 

 Previous zigs and zags bouced off the zag zone (good sign of continuation), next push up and back down did NOT buy off the zag zone and just fell thought 

 Break support for two reasons - grab liquidity or continue the trend. If it broke up and right back down this would most likely NOT be to continue the trend 

 Exhaustion gap filled quickly 

 Gapped into bearish divergence on the RSI 

 Price made a new high but OBV didn't make a new high