Not sure if anyone has noticed this weeks large volumes whilst the spread has really narrowed
Firstly the day chart, the larger compact volumes can easily been seen. Also after mostly every other move lower in price that has had a spike in volume it has then failed to hold after a sideways/upward jitter.
On the weekly chart the volume increase with narrow spread is a stand out. The only other weekly bar (in this present downtrend) that is remotely similar is that at #(2) which is a slightly wider spread. Way back to the left can also be seen the perfect three bar setup #(1). Note the first bar drops lower, closes mid, on huge volume. The following week rises higher on less, the third bar then settles lower within the spread of the first on much less volume. wham bam...... This present action may not be the bottom but something is up and it will be of interest to follow. I would give it at least two to three weekly bars and we should then know.
dyor
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