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bthotcop

7,922 Posts.

30/11/16

23:34

Post #: 21012590
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Originally posted by Jako64 ↑

Yes, I know what you mean........it looks like it want's to breakout if it can......but keeps drawing out more supply
Ever since that 22nd November bar (after the initial breakout and pullback, which attempted to push higher, but found supply), it has looked like it want's to push higher.
Those last three bars look like a 'shakeout', then a (messy) 'no supply' bar, and then a positive response higher.
Sadly, the midbar close does suggest ongoing supply issues.
It appears price is making a decent effort to absorb the supply coming in, but if the supply continues, or begins to overwhelm the demand, a more violent shakeout, or multi day pullback (a weekly shakeout) may eventuate, in a different attempt to remove the selling pressure.

cheers

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check out TAA, Trans-Australia Air.....,
.

Last edited by bthotcop: 30/11/16
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