JSE:MTN Selling Climax
Updated
Since the end of August volume has been high on MTN indicating that someone is buying while everyone else is panic selling. Last week was the highest volume since October 2015. Following the Wyckoff logic we expect a Automatic Rally (AR) which will form the upper bounds of a Trading Range (TR). We will then have to watch if this is another redistribution or accumulation.
Comment
There has been a break of the TR that was formed after the Selling Climax (SC). There are signs of strength (SoS) with persistent advancing volume. Price has pulled back to the yearly pivot point on low volume. Once this is complete the advance could continue.Comment
The advance continuesComment
Mark up still going on.
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