it probably isn't a classic spring situation, but it is a spring...

it probably isn't a classic spring situation, but it is a spring of the two previous lows (marked on the chart below), and yes that test is a test of the spring.


In the end all these terms are good for commentary, but not totally nessesary, more importantly, it the fact you identified the narrow spread downbar on increased volume was good....no doubt that was strong buying (confirmed with the upbar that followed), and the low volume test you picked out was also very nice.

I haven't seen the chart for today yet, but picturing the bar in my head looks like today might be a secondary test, but I do note that the supply at the recent highs was pretty strong.......and this supply will need to be removed or absorbed if price is to continue higher.




cheers