presuming today's bar was full of buying, which is a safe resumption given the bar closed almost on its highs, a bounce to approx 1.20 initially
if I'm wrong and the bullish bar is hiding mostly selling, then the multi-pivot, thin red line immediately below today's close at approx 0.70 should provide support
the intraday (not shown) on both 10min, 15min and 30min frames provides support in the low 0.70's
medium-term:
on a positive scenario, a gap-fill to the 1.20's followed by a retrace
long-term:
probably a bottom is in
... the climactic action is the key here.. insane volume on a wide-spread shake-out in recent (ie multi-year, but not all time) lows
If today was full of selling then the bar should have closed on its arse.. but it closed on its highs... it seems as if somebody / somebodies were buying up big... a green day tomorrow will confirm this.. other scenarios, eg a marginally down day on low volume, are more complicated to interpret...
CDA Price at posting:
80.5¢ Sentiment: ST Buy Disclosure: Held
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