Wyckoff trading method, page-193

Thanks pils, I didn't think anyone was watching it anymore......
The chart has had the opportunity to break down over the last few days (Monday was a failed test), especially as the overall market has been quite weak.
However, it has held on at the very lows of the recent range, and volume (selling pressure) continues to remain low.
(and price has not responded to the failed test)
So far price appears reluctant to break down any further, and the spread again reduced on Tuesday which is positive (in a small way).
If price does make a break for it, the supply between 3.8cps and 4.3cps has mostly been absorbed (bought), so the coast should be be fairly clear in that zone.