June chart

June 16. Closed on base for 4^th day in row, looks like being set up for a shakeout. OB/OS indicator turned down.
June 17. Volume increasing last three days, closed on low again won’t be long I think to see shakeout. Divergence indicator showing bearish divergence.
June 20. That’s what we need to see. Lrge vol wide spread bar, down day. Good bounce off the Red MLH & close near the Green fork ML. Could get a rally tomorrow. The vol shows as churning. Probable accumulation of 140,000 (15% of vol)
June 21. Good open, stronger looking candle, vol about half yesterday so probably not ready to run yet. Looks like a successful shakeout.
June 22. Gap open, closed during day (only 55k traded at 0.11so looks contrived). Low volume. Bulk of vol was at $0.115.
Candle looks negative with potential low down to $10 – 105 again tomorrow.
BUT the close was made after market on 673 volume. So looks like the accumulation/readjusting of accounts is still happening.
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June 23. Avg vol. Closed at low. Vol model shows churning. Accumulation factor 70,000 (15% of days vol.)
Short term resistance is base of prev. range box. Current support at the Green ML area.

June 24. Early trading (11am) vol. shows as buying. Retest of the Green ML. So far three days rising vol. 5 & 21 day avg. vol. drawing together. That has indicated a change in the past. (either direction)
Well that turned out nasty, looks like someone trying to instill a bit of panic into the equation using Brexit as the excuse.
Today’s volume has turned to churning so I think the mm has been accumulating a few more today. Accumulation factor is 262,800 (15% of volume).
Potential target if the mm follows thru Monday is down around $0.095 – 097 level to correspond to the falling blue dotted parallel line (below the green ML) & base of the old box 8.
The sp currently in the corner defined by the falling green fork ML& rising red fork MLH. I would excpect there to be some sort of reaction over the next couple of days. Either a pivot or a capitulation.
A failure here indicates a drop to $0.09 and a rally would see resistance back up at $0.115 or higher but I think an announcement would be needed to rally higher.
The volume in the last few minutes & after close may be indicating a further fall Monday. Potentially the downside target could be $0.086 - 087 as the base of the current trading range box.

The above is a recap of my notes for the previous week or so, some of which I posted previously.

So looking back on my notes I can now conclude that the price action for at least the last week was hinting that there would be a shakeout & this started a week before Brexit.
One conclusion is that it was planned for that time with more to come on the day (of Brexit) & possibly after but we will have to wait & see for that bit.
Brexit is an excuse for the final action but nothing fundamental has changed so would assume we will see a decent rally soon.
In the mean time I presume that the volume will decrease as this current shakeout comes to an end to be followed by increasing volume prior to the start of the next rally.

The weekly chart shows the bullish flag has now also broken.
The monthly at this stage is showing the price action still contained inside the previous candle which was the breakout. If the monthly retests the low of the previous month that in itself would not be unusual as prices often do so after a breakout.
All in all I would say that what we saw last week on those charts is nothing more that manipulation by the mm in anticipation and response to the Brexit decision.
Once the new fin year starts we should start to see a recovery & hopefully we will get the long awaited update on the bench testing etc.
The professional players plan their moves well in advance so what I am thinking here is that they have been accumulating for the last 3 or so weeks since the last rally and have used the Brexit business as the grand finali in their planning.
We may get a bit more selling or not, I believe that nearly all the volume traded in the last week has been by the big players but the only ones that know are the big players & they will signal their next move on the charts like they always do if only we can understand & see it for what it is.