todays chart, page-53

Personally I wouldn't call is a H&S (Shoulders too narrow), a Double top (anyone that thinks it is knows absolutely nothing about TA) or a Cup and Handle (base too jagged) however a C&H of the 3 is the closest to being realistic.
There are two double bottoms currently active,
A: June 06 low
B: July 06 High
C: October 06 Low
D: Incomplete

The second is a much smaller structure within C. The budding TA's out there should study about smaller double bottoms forming within larger DB's, it's a very powerful structure.

These are the two structures currently driving the momentum of Lynas. The smaller structure within the larger indicates that the 423.6 extension of the larger structure indicates a target around the 21 cent area will complete this technical setup.

Any retrace is about how price reacts to the support levels within this structure, other than volume there is no price activity to suggest momentum will drive Lynas down, so its more a case of absence of buyers rather than presence of sellers.

On Volume, while it was higher than I would like it was expected. Many would have been sitting on gains well over 100% from the October/November entries so a natural exit of that money is understandable, that coupled with the traders that were caught in the volume of December 2014 would have accounted for the bulk of the volume across the previous highs. One case of taking profit, the other a case of minimising losses. The fact that volumes settled so quickly suggests a degree of control by both buyers and sellers, not a great deal of fear present on either side.

Next Monday is the 21st Bar from the most recent high, I'm curious to see how price reacts to the channel low which intersects with the B high at 9 cents.