Analysing ANN as RDW would EOD 09/11/2015.

As a life long student of RDW’s ( Richard D. Wyckoff) teachings, I have found no better way to drill down the trading ranges ( trendless phases/sideways movements). This analysis of ANN, like most that I did in the past, based on this wonderful method.

To the point now. What is happening in this trading range of ANN ? Accumulation or RE DISTRIBUTION ?

It could be either to be frank, that is why we mark our SUPPORT &  RESISTANCE LEVELS and make sure that we observe them and respect them if we follow TA.

What appears is that, we are in PHASE “B” of ACCUMULATION of WYCKOFF. No mans land to be frank, PHASE B. But there appears to be a RESISTANCE LEVEL building up where I have drawn it with dashed Green horizontal line. That may be the SUB BRANCH or even the MAIN CREEK that the SCOUT BOY may JUMP ACROSS. Phase B usually is volatile with wild spreads. Not with ANN, so far at least. That may suggest an early C PHASE may be unfolding which is hard to tell in live analysis.

In any case we are in PHASE C, there are THREE RESISTANCE LEVELS to watch on the chart. All of those are marked with 1,2 & 3 (on the chart). Keep an eye on the first one ( dashed Green resistance line) at this stage, just in case the scout boy may decide to jump across, sooner than we think.

On the downside short term support which technically I would like to see hold is the low of SCLX DAY @ $19.42. Medium/long term term support @ $18.00 zone which is a price support of recent and the UP TRENDLINE ( Demand Line) form the next time frame up weekly ( not shown).




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