Today was a great start at setting an oversold bear trap from key support.

With the bounce from the 300 day moving average and the AVWAPs from last year’s high and low, price has entered the triple level resistance zone.

Clearing and holding above the resistance zone, will take the double top reversal play out of motion, setting a bear trap.

A trap that will then need to break and hold above the 200 day moving average in strong and sustained upside follow through above the trailing AVWAPs above around 6800.