test of supply, page-42

Not sure about the merit of top secret indicators (actually, I am sure, just being polite), but there's plenty to smile about with if looking at the regular "public" indicators.

Just been reviewing my daily PEN chart and what strikes me is how orderly the current advance has been. I've marked the channel that price has formed since breaking the downtrend, and also marked the high volume days. What shows is an incredibly nice repeating pattern of high volume push, then one to several days of low volume test. Price is now hugging the upper boundary of the channel. All these "public" indicators are bullish, in the short term at least.

No guarantee we will see another high volume push day tomorrow, even with the strong lead from o/s markets friday night, but judging by the regularity of the current pattern, we look set to see the completion of another low volume test before another push up. I see that repeating atm until the tests reveal any hidden supply - perhaps around the 6.4/6.8 gap?

Cheers, Sharks.