Hey Fasttrade,I agree that a change in trend is coming and to me...

Hey Fasttrade,

I agree that a change in trend is coming and to me looks like it will be to the upside IMHO. As you mentioned a narrow trading range + volume dropping way down, which as I have learnt so far usaully means accumulation.

Also as I mentioned in my previous post, current support was maintained slightly above Mid Point of the Mid Term High of 24.76 on 07/12/12 and low of 21.53 (which is 23.145) support was 23.155, I said 23.16 last night as that was what commsec was telling me but in the morning it said low was 23.155. To me this is a bullish signal as it is also .375 points(which is near enough to 1/8th of Range) above the Mid Point of mid Term High of 24.03 and 21.53 which is 22.78 and to me is indicating strength.

Tommorrow will be interesting and should give an idea and with the way the buyers were coming late, could well rise as for the trend to be up it should not react more than 3 days IMHO as if it reacts for 4 Days the trend will be down at least temporarily. eg 11,12 & 13/09/12 which was the final leg up of the last Bullish run.

Hope this helps, I am still learning myself so this is all speculation and DYOR.