Look at the 9 to 10c range for clues on a hourly or five minute...

Look at the 9 to 10c range for clues on a hourly or five minute chart or whatever.

At the lower end of the range since the spike there has been little volume. At the upper end of the range there was heaps of volume today - first time it was re-tested.

Why?

Because on balance sellers are not willing to part with their precious stock near 9 cents. Buyers, however, are willing to part with their money in huge numbers near the top of the range - and this is disproportionate to the sellers at the lower end.

Eventually, assuming nothing changes - a big assumption - the sellers willing to sell at 10c and below will be cleared, and the equilibrium will move upwards to a new range.