Hi All, Checking back in with an update of my KRC chart...

Hi All,

Checking back in with an update of my KRC chart following the action of late last week. The reaction so far this week hasn't been bullish as price was unable to break-through the previously drawn trend line. This was at the same level as areas which have acted as support and resistance in the past so it does mark an interest area on the chart. Again, the green line was drawn before so it was a reaction to that area. This has now established another lower high which is a continuation of the down trend since the break of the uptrend in mid August. In pure price action the expectation is a new lower low, or a retest of the low.

With that said - the green bar on Friday was very strong and high volume so the retrace up was particularly strong which challenges the above expectation. The two bars this week have been on lower volume as well. So I will keep watching.

tldr: Chart is behaving consistent with continuation of downtrend, waiting for a break of the downtrend before change in expectation (a higher low and break of the trend line with a higher high as well).