Hi Jacko, I'll have a punt. I have been following quietly on the...

Hi Jacko,

I'll have a punt.
I have been following quietly on the side lines. Thanks for your efforts, much appreciated.

To my reading of the chart there is significant weakness on both the weekly and daily charts.
On the daily the new high reached 10 bars ago was on achieved on relatively low volume when compared to the previous high 20 bars ago. The high 20 days ago had three ultra high volume days (the 3 highest volume days on the chart- suggesting supply coming in and confirmed?? when the new daily high came in on much lower volume).

On the weekly the ultra high volume day reached 4 bars earlier was weak as it closed at its low. While the next 3 bars had above ave volume the last 2 look weak, closing well below their mid point with a large spread - suggesting no sign of buyers stepping up for any stopping volume.

The daily also looks like a head & shoulders pattern forming.

So my 'L' plater summary is with weakness in the near background of the weekly and daily and a H&S on the daily I would not be putting any funds in and would be getting out if I had coin in.

Cheers,
masmas