Short positions were built at $37.86 and again at $35.99. Buyers failed to defend $32.90 and sellers were able to "flip the order book". Price is now gravitating towards the sell stops at $31.21 and $28.46. If buyers want to have a fighting chance, they must get price back above $32.90. If they don't, and price is advertised lower, the bulls last stand is the gap...
CORR recently "flipped the book" as price gravitated towards the liquidity at $4.88, which was September high. This forced short sellers to cover (buy), which was fuel to push price higher. $4.88 is a key level and is now firm support as we push above July's monthly low of $5.25. Price closed 3 cents above it, which is bullish. However, more conviction is needed...
