If the charts are true, as I generally think they are, then what has been transpiring of late is a low volume rounded bottom. And, to be clear, it didn't even retrace to the most recent low, so in point of fact, its been a low volume intemediate pullback, not the lowest-of-lows bottomming out behavior.
I use green & red to depict up and down candles and the last 11 trading days have all either been green bars or dojis, all very low vol. No red candles (downs) at all.... a few flat-liners that had hi-lo-open-close all at .025, so technically not doji's, but flat-liners are all but dojis IMHO.
I've been kind of eyeballing the chart to try to see if a reverse head and shoulders is what has been materializing and, its looking a lot like this is the low volume right shoulder of a reverse head and shoulder. We'll just have to wait and see.
Anyway, I too do not see .02 or .018 getting re-tested, but anything is possible. Even if there is a retest of the lows, I will be watching for it to be a hammer, which to the unfamiliar, is the Japanese candle that depicts "hammering out a bottom" (hence the moniker "Hammer"). Its like a nail.... a flat (or small) cap on top of a long line running down below the cap (the nail portion).
We'll just have to continue watching the unfolding happen.
Imperial Whazoo
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