medium · Volume Price Analysis testing
An Upthrust appears at the top of a markup phase with ultra-high volume, followed by a 'no-demand' bar.
How does the 'no-demand' bar change the outlook?
- It indicates a failed test of supply, meaning the market must return to the lows to find buyers.
- It provides confirmation that both professional and retail buying interest has completely evaporated after the distribution.
- It suggests the market is entering a new accumulation phase to build cause for a breakout.
- It negates the bearishness of the Upthrust by showing that selling pressure has dried up.
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