MSB Charts, page-112

Hi all, hasn't been a chart for a while but thought some may find this interesting.

Yes price has been walking down since the end of April, but there has been some signs of strength returning as it approached the bottom trendline of the rising channel. This coincides with a spike down in nett shorts about a week ago, so we know where at least some of the buying has come from.

However what I found interesting is price is now entering an area where several key support and resistance areas converge in to a tight cluster. No predictions, but often there is some sort of price and volume reaction when this happens as all sorts of buy and sell trigger signals and indicators start to go off all at once. For example, there was a similar cluster back in mid-March prior to the break up. The trading action prior to this situation is different to back then where there was a period of flat line accumulating and covering, but still potential for some sort of reaction.

Below is a daily chart with comments- will be watching with interest .