hi cougar, sorry for the delay :) daily chart I would be quiet...

hi cougar, sorry for the delay

daily chart

I would be quiet careful with this recent weeks action. not sure why it would need so much churn of volume after it had cleared those two earlier bouts of supply. imo the 'what appears' to be a low volume test of last Friday could/should be ignored.. it was a Friday and sometimes these things just happened like that. so atm the way I see it is 'bloomin' that is a lot of churning volume that has not gone anywhere.. now I guess next week we will find out what it was all up to



weekly chart

that bar is one doozy of a potential upthrust.. now we could say that the volume was needed to clear those two earlier bouts of supply .. well actually the second one just five weeks ago is absorption volume.. it would in effect be absorbing the supply from that earlier upthrust to the left.. note just two weeks later (three weeks ago) you have a neat weekly low volume test.. the test bar may have broken beneath the low of the absorption volume bar but it is being supported by earlier high volume.