Even though by a narrow margin, we saw the volume surpass the amount traded on May 15th. That was the day when we had a daily candle closing at 10 cents.
Since then, we've seen a somewhat contradictory pattern - the price has been moving upwards, yet the volume has been dwindling. However, today's trading volume, despite being only slightly higher, suggests that we're in for a change.
By outpacing the volume traded on the 15th, we have a robust indication that the bottom has closed and that we're seeing a trend reversal. This is a classic case of market dynamics.
The upward move in volume, coupled with the price, hints at the bullish sentiment brewing among traders and market makers (did I mentioned i smell burnt shorts?). we may soon see a price level of 15.5 cents. So, after this upward climb, I expect a minor price correction before the upward trend continues. Remember, this is just part of the market's natural ebb and flow.
However, it's crucial to approach this with a healthy dose of realism. While today's trading pattern is indeed promising, the financial markets have a knack for surprising us.
So, I'm keeping my eyes peeled and my mind opened.
Exciting times are certainly ahead of us. Or not...
Good luck everyone.
IHL Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
