"The large volume on our day closing both gaps with a subsequent...

"The large volume on our day closing both gaps with a subsequent few low volume days, stacking of the MD yesterday and buying pressure today seem to indicate a reversal."
"I see such spikes occuring during the next 2 weeks"

Yes I agree it's quite possible Surges. It could be peculating as we speak lol..

Here's today's chart/analysis/opinion anyway.

Negative:

TRIX (-123.64) is in bearish territory. (although oversold)
Volume Oscillator - currently negative.
Volume rate of change - currently bearish
MACD is in bearish territory. (but indicated a short term rally within the next few days is possible)
Acc/Dist - currently bearish.

Positive:

EMA (st) beginning to fall in line..
Linear regression - good.
Momentum indication - oversold, and and upturn is possible.
Parabolic is showing some weakening in the downtrend. (though still currently short)
Rate of change (-8.33) is oversold and an upturn is possible.
Volume is trending higher, allowing for a pick up in volatility..
ADX indicates a deterioration in the current downtrend. The price action can get choppy as it attempts to establish a new trend..

Positive indications have increased yet again.


Opinion:

There was heavy technical resistance at 1.2.
it's great to see that today's high has depleted that barrier. (for this chart)

The sp is strong today, although I would of preferred it a pip higher. If it can hold this level by the end of the week (1.1), then there's a good chance it can attempt to break out into an uptrend imo.. (fingers crossed)
1.3 resistance is (currently) the threshold to the reversal imo. Looking for a fairly strong breakout though, minimum 1.5 perhaps?

Good luck all, watching with interest..