I look at the IMU Chart with volume and money flow information, and I see a somewhat bullish scenario. I've marked significant new lows (lower lows) on the chart - and correlated those with Chaikin Money Flow. While the chart has been in a down-trend from early September, 2024, Chakin Money Flow has been recording significant higher lows.
When we have new lows being made on the chart but corresponding new lows aren't being recorded on CMF, we have a bullish scenario.
Candle Glance charts are informative re money flows.
In the recent rise from late December to 8 January, you will see the candles are much "fatter" (higher volume) than in the fall from 9 January to the current date, i.e., the current date hasn't been accompanied by stronger volumes. In fact, volume seems to have fallen away to comparatively negligible amounts.
A clear double bottom has formed on the chart.
We now have a higher high and a higher low on the chart - definition of an up-trend.
A break below the lows of late December would negate the up-trend.
Take care. RB.
IMU Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
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