Bullish chart in my view...Doji star on day 3 of a trend-bounce...

Bullish chart in my view...

Doji star on day 3 of a trend-bounce rally, with an open/close equal to the previous days close, can mean procrastination and possible drift back to confirm support, if the volumes on the doji day (today) are significantly higher than day 2, or significantly lower...but not usually when the volumes are equal to day 1 of the rally!

Rally synopsis...

Day 1: saw fresh positions taken from mostly supporters, followers and investors, with some early technical traders...it was predominantly a net-buy (money flow) day.

Day 2: saw mostly technical interest, with a combination of net-buy, net exit trading as new buyers entered, but historic resistance levels kicked in towards the top of the day's range. This turned the day into a marginally net-exit (money flow) day, after starting as a net-buy (money flow) day.

Day 3: (today) saw most temporary positions from day 1 exit as well as some of those from day 2 also move on...and of course some more of the historic resistance kick in once again. The long upper tail on day two, with equal upper and lower tail today (same trading ranges each day) has firmly underlined the importance of the 3.6c line. The particular significance of today's volumes given today's VWAP, should lead to trading into the upper tail of day two tomorrow, which also happens to be the upper tail of today's range.

A double significance for me.

Now...if we get a higher VWAP tomorrow (than today's), we are more or less on our way...the first signs of which would be any volume trading above today's close.

Collectively, the last three days have seen the highest volumes trade since the original spike period back in early Jan...and perhaps most importantly, has traded similar (slightly higher) VWAP's.

If we get similar volumes tomorrow, it should run!

We are looking at a significant continuation pattern in my view. The nature of such patterns, typically (but not always) are for a significant break to the upside and coresponding overshoot...in this case, with a 4.8-5.6c initial spike target range on the back of "facilitation", be it news or whatever.

Without news it is likely to still break out, but far more modestly and with a likely lower overshoot highside.

Internation conditions however might also impact here...so one need not get ones hopes up to much!

Clearly potential exists for a major run to develop...just need a few things to fall into place and it could be a good one.

Cheers!