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chart update anyone?, page-31

  1. 19,112 Posts.
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    I see the Key Level in the short term as 98 cps,

    Potential Resistance above 1.055, with stronger potential resistance between 1.09 - 1.125.

    It appears to be attempting to absorb the supply coming in above 1.055 (new short positions being taken, old longs getting out at B/E, new longs taking profits from the recent lows, etc.),
    should this supply become overwhelming, then 98 needs to hold, for it to remain bullish in the short term.

    Chart below has no timeframe, just a Max. Vol. of 30mil per bar (however long or short a period of time that takes), using daily closes, so it tightens the chart up to be roughly a 3 day chart.

    The Cumulative Volume Wave is 2.5cents, so a daily close must be 2.5 cents or more in the opposite direction for a new wave to begin.

    and the volume numbers are in millions.

    Today's trading is not included.

    You can clearly see that the recent 236 million to the upside is the highest upside volume for ages, this is a potentially bullish change in behaviour.
    Which is followed by a low volume test for supply of 18 million back to the previous potential resistance level.

    What actually happens at and above 1.055, & in particular 1.09, will most likely be the key in the short term.

    cheers


 
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