Nice chart mate. You are right, we don't really know whats happening there yet. We do know that we have persistent volume (supply) and the pros won't let it get too far while supply is present - look a bit left to AUG 5 - high volume down bar - in this case buying - it springs but we know they are going to bring it back to test - and we wanted to see it come back to this area on LESS volume/supply to show the selling had been absorbed. But we have more volume down here than ever now. And every time it tries to push back up through that down bar on Aug 19 its getting rejected - and giving us high volume UP BARS closing off the high (and we know what they like to do on upbars) confirming the supply in that bar (AUG19). To be long we really want to wait for it too clear this area as you say and then see it properly tested. Might chart it properly tonight because there's more to say but easier on a chart. But the danger here is that they could be holding it up to complete distribution (redistribution). So keep frosty.
ACR Price at posting:
$3.78 Sentiment: None Disclosure: Not Held
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