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Zandaya

2,953 Posts.

33

10/02/16

22:01

Post #: 16990166
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Originally posted by Jako64 ↑

NWZ Update-

Since the last update, which saw price breakdown (although there was a chance it was a shakeout, but that was not confirmed with the next bar lower).
So then price came off and put in another interesting bar and volume (arrowed) , where spread narrowed but volume increased.
(Note- Volume and Spread generally walk hand in hand, so when there is a difference between them, it is usually worth noting)
However, normally a bar like that which suggests potential strong buying, the next bar should be up in response (within a supply vacuum). However, the next bar only closed level, which was a pretty poor response really, and to confirm it, Wednesdays bar closed much lower and back at the previous lows....albeit on reduced volume.......
Wednesdays bar has closed below both Tuesday's, and more importantly Monday's lows....this can still be resolved, but gives a bad impression, and does not suggest strength at all.
View attachment 142060
View attachment 142062

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Jako, looking at the volume on the closing bar compared to the larger volume at current price level back in mid September, does this possibly constitute the chance for higher prices due to the volume ben roughly 50% lower?
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