Hi all, here's a chart with a few thoughts. I've marked up a few...

Hi all, here's a chart with a few thoughts. I've marked up a few key areas that are probably pretty obvious but might be of value to some- so feel free to use, ignore, critique or add comments.

If it wasn't obvious before, then the flood of selling to keep price out of the $1.36 to $1.405 zone marks that as an important area of resistance. It will be interesting to see this week if there are some obvious signs of demand starting to overcome supply at the current levels and below. It looked to me a couple of weeks ago that price was heading down to try out the ~$1.05 level but it broke up before it got a chance. Now we're already there, and although there were signs over Wednesday and Thursday of plenty of demand present, it wasn't having the impact against supply compared to a couple of weeks ago.

Looking at Friday's intraday 1 minute chart, after the opening trading the biggest volume spikes of the day were when price hit $1.05 and it spent less than 9 minutes there in total. So there's a hint of some keen buying at this level, however the balance seems to indicate it will go lower. If the big money shorts are actually wanting to quit their positions, then they'd probably be happy for some low volume sideways action for a while to make a nice orderly exit. However they might be competing against smaller shorts covering that piggy backed the smack down of the breakout, and of course others and potentially big money buying to build a position.

Wait and see at the moment for me, but watching keenly for signs of strength if price ventures in to the support zone I've drawn for another invitation back in.