medium · Volume Price Analysis support-resistance
An 'Upthrust' occurs at a well-defined resistance level of $62.00. The candle peaks at $62.80but closes at 61.50 on 2.3× average volume.
What does the volume signature tell you about this event?
- The insiders are 'stop-hunting' and selling to triggered buy-orders.
- This is simply a low-volume test of demand at the ceiling here.
- Buyers are overwhelming sellers here, so a genuine breakout is imminent.
- The market has entered a 'no demand' state and will likely drift sideways for now.
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