Hi Traders,
An update on LTC. As you can see price is in a range, with average volume increasing, this is a sign that a big move is due. The question is what side will it break? Sell side volume is larger than buy side however it can be sent that the size of sell side volume bars are decreasing with accumulation increasing within the ranging period. This begs the question of are we seeing buy accumulation or sell. As the size of sell side volume bars are decreasing whilst we're seeing a slow increase in buy side volume bars which increases the argument for accumulation to take place as buy side. We will continue to watch volume and rejections from support and resistance.
Thanks
The Market Sniper Team
An update on LTC. As you can see price is in a range, with average volume increasing, this is a sign that a big move is due. The question is what side will it break? Sell side volume is larger than buy side however it can be sent that the size of sell side volume bars are decreasing with accumulation increasing within the ranging period. This begs the question of are we seeing buy accumulation or sell. As the size of sell side volume bars are decreasing whilst we're seeing a slow increase in buy side volume bars which increases the argument for accumulation to take place as buy side. We will continue to watch volume and rejections from support and resistance.
Thanks
The Market Sniper Team
