The current rate of decreasing volume is unsustainable...
10:00 - 11:00...6.9m
11:00 - 12:00...2.1m
12:00 - 1:00...0.52m (to 12:50)
For this trend to continue, we would need volumes of just 200K or so next hour?
Can't see that happening, but if it does, it suggests an even bigger period following.
Something has to happen soon.
Given the daily VWAP = 31.6 and the fact that about half of today's volume has traded in the 32-34c range...just above the VWAP, odds are in my opinion, that an increase in volume should see higher prices.
I'm looking forward to a pretty interesting close, possibly reaching new intra-day highs.
Cheers!
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