CORR

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 and acceptance is determined using both time and volume. We will want to see at least 3 days close above it for a more bullish sentiment. Once that is done, we will look for a reaction at $6.12 as the hunt for liquidity continues and they run the buy stops at that level, exactly as they did at $4.88.