WR1 General Discussion, page-29398

Yes sure, could be that or a simple pennant. Generally I agree around descending pennants but I have in the past found they fail more on binary events, which I don't think Winsome has any that would cause a major surprise other than really the scoping study for Renard coming back unfavourable (which is a while away?).

So my read and what I am talking about @jaimore mentioned is that we are in a bit of a balance here. Here's the volume profile for this pattern on a 30min timeframe which shows the volume traded at different price points. Between those blue lines is where 70% of the volume has been trade here and general convention is; below bottom blue line = good value, look to buy below / above top blue line = less good value, look to sell or lighten load.

So when I see the reactive buying at these lows (volumes generally look better around the $1.22 - $1.25 mark) - it seems like someone or somebodies feel like this is good value down here. Hence why to me it looks like a rock solid support line for now.

I actually think they will run the lows soon and then bounce it from here, would watch around $1.18 or so for some heavy soaking before ripping it. But that's just my humble opinion...