AA Short

Action today was relatively strong with a gap up and breakthrough of major resistance points at ~$40 and the 20EMA; however, breakthrough had poor conviction and didn't hold, immediately trending back down below $40. On a lower time frame (5 minutes), multiple retests of the $40 range were rejected, leading to a large topping tail on the daily chart.

# Bearish bias for now. Premarket action will dictate direction tomorrow

# Likely see a retrace / gap fill back down to the 9EMA, which is a confluence zone with a pivot point at ~$37.50