Phase B would be my choice at the current moment. The CO probably needs another good opportunity to accumulate supply before mark up. Repeated Tests of Supply above the Buying Climax level have proved that there is still some, although less now. I'm expecting a test of the lower trading range boundary and will be watching supply levels down there.
Comment:
A higher low or a low volume spring type action would be bullish. An Increase in supply at the current price range and lower would be have me closing longs and looking for a short entry.