VS - Potential SOS rally in phase D with supply absorption

VS

• An up-sloping accumulation structure suggests strength.
  
• Potential in phase D SOS rally.
  
• Supply absorption is near completion.
  
• Likely to see ease of movement to rally up further in phase E.
  
• First target at 1.60 with a tight stop around 1.20.
  

Trade active:

First round rally started. Supply level is low. Steady up-trend is expected to continue.

Comment:

Big spread bearish bar on 1 Oct 2019 had the character of Effort > with Result<, with a higher low formed, bullish characteristics. Mark up stage is pending.

Comment:

- Supply level is low.
- Pending quality demand to initiate breakout in near term.
- Expect ease of movement to rally up.