1.Between A1 and A:, there were increasing amounts of supply...

1.Between A1 and A:, there were increasing amounts of supply entering the market where sellers were offloading as quick as they could
2. A: Price again fell to retest the previous gap up at AA. Price managed to claw its way back during trading and was able to close that gap.
3. B: Price initially rallied, however sellers stepped into take advantage of the price increase. This supply overcame the buyers and price slipped back to close a tad above the new support zone, (which was previous resistance back at AA)
4. A low volume day, this bar is interesting as it often can look as though there is a lack of supply. Perhaps those involved decided to take their cards off the table and not participate in the trading day. Perhaps it was a genuine sign on that day that overhead supply had been absorbed, taking into account that price hardly moved in either direction
5. Stronger day with a solid attempt by buyers to take on the sellers. The range of bar was larger than previous and price managed to climb upwards during the trading day. However at some point supply appeared again, forcing a close midbar, which is not overly bullish, however it did show that buyers were prepare to jump in around that price level and have a go. The upthrust resulted in buyer exhaustion at higher levels
6. The following day (E) price again was able to rest on that resistance zone, which previously with volume slightly less than average. This may have been another test of supply.
Looking at those last 5 bars together from A to E (within the daily however) there has been overhead supply flowing in when price has attempted to rally. I am thinking that price may be forced down to that area on the chart between A and AA (where the 2 different green lines are) This has been a strong demand area so far for the chart. From there it will be whether buyers will continue to absorb that supply and then price can rally, or it will break to the downside, due to so much supply…..???

Still not feeling confident with it yet, but will come with time…..
Cheers
GF