OK good, hope it works well for you. Thanks for the feedback...

OK good, hope it works well for you.

Thanks for the feedback mirren, glad to hear that you are getting something out of it.
I'll do another update soon, been quite busy this weekend.

Interesting chart.
There has not been a huge cause built or anything, however price has pushed higher, and has drawn out supply in the week ending 18th March (marked).
This can be seen when the amount of spread and volume are compared - the spread narrowed, but the volume increased substantially, and that change was because supply (selling pressure had been drawn out).
Anyway, since then there has been plenty of time for price to breakdown in response, but it hasn't, and appears to be making a reasonable attempt at absorbing the supply coming in. From that, I expect the supply is being drawn out from the congestion to the left (older trapped holders selling out at breakeven....), as opposed to supply from below (profit taking).
The last weekly bar shows a fair increase in volume, but price held on pretty well in response (if it was all selling pressure, the spread would most likely have been much wider towards the downside). So I expect that there may have been a decent attempt at absorption within this bar (an upbar in response would help to confirm, or even a lack of follow through to the downside would offer some sort of confirmation).
All that said, if the supply drawn out continues to be difficult to remove, and price does want to move higher, then watch for a shakeout followed by some testing.
As this is a common way to remove supply from above.

Weekly Chart