Looking to fall back from these areas
roughly from this area. Would be looking for a spring with an ease of movement on a high end close or set of them
There is no catalyst yet for a reversal on the VIX. However, we aren't far away from a long term supply area at the beginning of the year. While I expect more bullish movement, the supply line is where it could get interesting and reverse. We would need to see less demand volume and rejection of highs at this level to consider a change in direction. That said,...
Low volume on this last move. Needs a lot of volume to breakout. Beware of a false break and upthrust to reverse this move on low volume. Buyers are getting thin right at this point.
Looking at these supply lines as first points of resistance. Market may chop around after reaching them. Bias is still to the down side.
Looking at these Wyckoff supply lines as resistance in the first instance.
RESISTANCE AT SUPPLY LINE. VOLUME DOES NOT SUPPORT A BIG UP MOVE - AT THE MOMENT
Resistance at supply line. This may hold any further up move.
It's all on the chart. Huge accumulation on the downside before this move up - should see the AUD go higher at least for a while