chart, page-5

Hi mr delta, the key areas we should be looking for a test bar is on one of my circled upthrust bars.
Now looking at the chart you will notice two of these upthrusts are below current price action and IMO are optimum targets for a low volume test.
The key is that the price comes down to test the body of one of these bars on low volume proving that the floating supply at this level is exhausted and warrants a further upward movement in price.

Yes it could come back to test the trend line once again before moving on up but that would only be if the areas of the upthrust bars fail.

The breakout bar closed a little off it's highs on ultra high volume which tells us there was some supply up there as well so after a breakout of the high of the most recent bar occurs then it too will probably tested and if it proves successful on low volume then that would be a really nice entry as the longer term down trend would definitely be broken and a couple of higher highs would be in place...


I'm sorry I am stuck in an airport today on the iPad but will keep an eye on the chart and keep some updated posts streaming through...

Good luck guys