Following on September's analysis (link below) the backup has taken place and the markup is continuing with HH and HL. We see an ease of advance with large spreads. When supply has entered the market there has been effort without response (OBV declining without a similar price decline) indicating the buyers are absorbing the supply. Also notice the narrow spreads on declines.
コメント:
The absorption of the supply seems to be complete as price has found support at the Yearly Pivot Point and oversold trend line. Will be looking at the next move to test previous highs.
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Volume spike today indicating effort without result could indicate the start of a good move.
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Absorption of supply is complete. Markup is continuing.
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CPI has reached the previous high and is close to the overbought line of the upward stride. Although the move into the high is on some good volume it is best to be cautious now and watch the price action carefully.
コメント:
CPI is showing lots of strength in a week market. After reaching the previous highs it has formed a flag on declining volume. With the JSE currently looking it may rally slightly in the next few days and the rand showing strength there could be a break of the highs on the cards.
コメント:
CPI has broken to new highs and reached the supply line. Now we see divergence on the Volume RSI and some volume indicating some selling pressure. Will watch how it reacts at the breakout level to see if this is a move to the oversold line or if the markup will continue.
