Hey Fish - Price did try to spring off that last support level - but has failed and broken down again - landing at quite a strong support zone here - on low volume as you said - can be interpreted in a lot of ways - there was decent volume in the attempted spring - and low volume in the last candle which suggests that it may be being pushed down artificially - I see the sell side is being loaded with 5k lots in the depth if there is no demand it is not difficult to massage the price lower - but this level is a real test - you can only watch and wait for sideways accumulation or - capitulation here -
This is tax loss selling month so it may well go down to test 20.00- however the highest volume on the chart ever is at that level - So I would expect the price to be defended down there - If your short just look for high volume capitulation to close off ?
I did have a look at the lower time frame seems a bit crazy - selldowns into every price spike sort of - bit all over the place so hard to tell if anyone is actually trying to do something or if it is just random-
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Hey Fish - Price did try to spring off that last support level -...
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---|---|---|
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Price($) | Vol. | No. |
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