todays action, page-23

Scarin,

It looks liked its jumped with the the rest of the market at the moment. Volume is reasonably high as it needs to be to push through the supply at 19.5c. What we don't want to see is a close on the low.
If it closes on the high then that may indicate that the "upthrust" of a couple days ago was in fact "absorption" volume (smart money beginning to absorb supply from stale holders at resistance), followed by a test yesterday and another push today. If it closes on the low then that would confirm the weakness/supply we saw on Tuesday.
So just to annoy us they will probably close it in the middle lol - which will still show supply coming in. So we will just have to see where it finishes today.
But I won't get an entry this week because it needs to clear 19.5c and then come back to test and price closing higher after that confirms the test and gives an entry - or if its a particular good test - real low voume and narrow spread, I may take it on the day.