I mentioned yesterday my desire to watch the previous day's last hour lows ($88.) for a move. We got that break-down after meeting resistance at the pivot point level on a small gap-up. The bottoming process for the day was built on two bullish divergences, the first between 11:30 & 12:30 and the wider being between 12:30 & 2:30. Price ended up right back at that $88. level (previous trend day's last hour low).
The 60-min chart put in a bullish divergence after weakening downside pressure today.
Provided our momentum indicator ticks up tomorrow, we have another (slight) buy divergence happening.
The market profile shows value being established at these lower levels and possible upside resistance back at the gap from last Thursday.
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