medium · Volume Price Analysis
A falling triangle pattern is observed on a daily chart. The horizontal support is at $100. Each successive rally peak is lower ($110, $107, $103), and the volume on these rallies is steadily decreasing.
What does the volume on the rallies indicate?
- Bullish divergence
- A 'coiled spring' neutral state
- Strong accumulation at support
- Weakening demand; bearish bias
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