A bit of an actuality.
You can now download the 1H version from the Environment/Downloads menu.
The gap up over the weekend had the following purpose: they put back the price into the overbought area.
As Ira Epstein would put it: they saved it (which can be done within 1 day of losing the overbought field – according to him).
Embedding means three consecutive days in the overbought or oversold field. This develops a safety for constant buying/selling.
Once price gets out of the overbought/oversold area, it is poised for a big distance move: from oversold to overbought is 60% of the total range, and that is if it even stops at the opposite neckline.
As Scott Barkley said about the Market Makers, that have positions to regurgitate back to the public, “they create a buyers / sellers market”.
Although I never quite understood what he exactly meant by that, this gap-up example does provide us with some answer; the gap required a small out of hours movement, that “saved” the price from losing the overbought status, practically they put the train back on the rails to secure their baggage to be picked up on the way.
Alles Klar, Kommisar?