You are right. Technically this should bounce back up from 23.5c as that was the lowest it went before the trend up. The fact that it touched that in 4 consecutive trading days with lower volume on each should make up for a good base to move up with some increase in interest.
At the moment the volume is just not there - once the positive news comes in, it might be a different case.
MSM Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held