- After trying to establish a new downtrend the plunge stops on point "1".
- From there we went back into the trading range "a/b" and tested the upper line.
- From there we went back to the supportlin "b" (potential axisline).
- Here we formed out a SPRING. It it likely that the price moves back to the upper side of the trading range.
- Today bar is also an ODR...
The latest intra-day candle in Encana seems to demonstrate a classic Wyckoff spring at a support level. There seem to be willing buyers below the current support level. This looks like a pullback in a trending stock to be bought.