Finally looks like we have the first signs of demand creeping back in at long last. First blue candle in a long time yesterday. Bit of a falling wedge reversal pattern in play. We will see a bounce at some stage, of that I'm sure.
However, there's also that gap at 14.5c that's still sitting there which may want to be filled. I'm not a huge believer in gap theory from a theoretical perspective, but they do seem to get filled more often than not...There's a good chance we may have to wait for it to get filled before we see a bounce.
Otherwise, watch closely for a break of the upper line of the wedge on volume. I'm betting that when that happens we are going to see quite a flurry. Started seeing a few large off screen orders hitting the sell stack yesterday - a sign that someone with deep pockets has become interested again. We know Credit Suisse are buying...
