HI, my take on RANHILL
After the selling climax, price rallied up in an impulsive move, followed by correction in the form of a descending channel B. Upon reaching the previous support A, we could see shortening of downward thrust. The last move down (C) is currently still unable to break below the recent low at D. But look at the high cummuative volume of down wave C ( on Weiss indicator). Despite this high down move volume wave , price still unable to penetrate below previous low (high effort but no result) might indicate hidden buyers entering the market, and sellers exhausted.
I'm looking forward to see price move up again.
Trade at your own risk. Comments are welcomed
After the selling climax, price rallied up in an impulsive move, followed by correction in the form of a descending channel B. Upon reaching the previous support A, we could see shortening of downward thrust. The last move down (C) is currently still unable to break below the recent low at D. But look at the high cummuative volume of down wave C ( on Weiss indicator). Despite this high down move volume wave , price still unable to penetrate below previous low (high effort but no result) might indicate hidden buyers entering the market, and sellers exhausted.
I'm looking forward to see price move up again.
Trade at your own risk. Comments are welcomed