Bullish flag type setup still panning out it looks. I don't like to define it tightly so quickly as when professional buyers are on it, the flag can drag out as far as necessary to squeeze supply out, but the psychology and structure for it is there. Volumes are the key to watch - when they dry out completely, you can be pretty confident 4DS is not going to be worth less.
Support zone being tested in the green area. It will hold IMO. Harder support lines in red. It is likely most of this zone will be back tested now that 7.4c hard support was breached. This would represent stop losses and weak hands being flushed for continuation etc
Resistance zone in the red above, that will be the next barrier. Trapped longs from the gap down up there will be the force to contend with.
Volume has still been on the buying and cleverly so.
So basically, it looks like an excellent setup. Small timeframe buy/sell volume candles and support/resistance is 99% of the info you need to plot likely action.
This is of course assuming no news etc, but I would think that is coming sooner rather than later based on the broker data we saw and the trade patterns.
4DS Price at posting:
7.2¢ Sentiment: None Disclosure: Held
