CC9 0.63 pumped up to a monthly high the previous week and was all dump this week There has been three pushes down from the highs on Monday afternoon. IT remains in a downtrend at present making lower highs and lower lows. It has a high just above price and the 34wma just above that so there is more supply than demand at present and in a downtrend we expect the lower highs to hold and the lower lows be the ones most likely to break easier. There has been no retest of the lower lows to see if the lows will hold. The candles at present are very small and lacking any real vertical momentum more just a shuffle across. As a parabolic trend downwards there is no sign of desperation from the sellers and they have made no effort to complete the doubling of the range down yet. They are content to just sell what they have to to maintain the downtrend at present There are still holders below the current market price who are still in the money and would have had no reason to consider selling yet. All in all it looks like a serious pump and a casual dump so far and if it can't get above the 34ema and stay above it will probably remain on course to test 36 cents.
