Shortly after 1100, price does approach, then push through, this line, becoming “overbought” by virtue of having pushed through the line. A few minutes later, it pushes further to the midpoint of Wednesday’s downmove. If the trader were long, should he exit here? Should he go short? That depends on the trader. But this is where the bears gain the upper hand and turn price back, not out of the blue, but at the confluence of these two important levels (compare the time chart to the CVB chart).