Earlier in the week, we observed that Sunoco (SUN) was retreating after a bullish break above a critical resistance around 31.50. We also anticipated support for SUN at around 30.00 GIVEN that the market is turning bullish. Indeed there was strong buying during the 8/9 session.Sunoco (SUN) Daily Chart(click to enlarge)Breakout:- As we can see on the daily chart, a break above 31.50 might have shifted the trend from sideways to bullish.- Also, note that price has pushed above the 100- and 200-day simple moving averages (SMAs). The bounce off of 30.00 maintains price above this SMA cluster, confirming a bullish outlook.- The bullish candle itself, which engulfed several sessions of price action, is also an indicator that bulls are gaining control.- Furthermore, the RSI held above 40, which reflects maintenance of the prevailing bullish momentum.-