Just a quick update on volume and price.After the selloff last...

Just a quick update on volume and price.
After the selloff last week, volume looks to have bounce back somewhat, with the accumulation/distribution recovering and the OBV forming a base (with a slow uptrend) as price seems to be entering a channel with a slight uptrend. It is good to see volume stabilising and supporting the consolidation. The uptick in accumulation/distribution at the 61.8% fib level of the retracement (around 6.50-6.70) gives validity to this level as support.
Obviously this is only over the last couple of days and we want to see what plays out, but it is good to see. We are likely seeing some range-trading moving price around a bit as we consolidate. Regardless of whether it is real resistance or a sell wall in place at 7.00 (11290 units for sale) and 7.86 (165000 units for sale), these will be key levels to watch as there is major liquidity here. If these levels get taken (not pulled) then this is very bullish to me. On the other hand, if these levels continue to provide resistance, I think that accumulation will continue to occur in a channel until we have sufficient buy side pressure to take these levels. Again these levels may have just been placed here to cap price to accumulate in the high 6's and low to mid 7's.