Wyckoff Method of Analysis is applied to this ISD daily chart. I will keep it simple so that all members can understand this analysis.
Climactic price and volume action (marked with SC) behaviour on 24/02/2016 followed by a trading range to date. Re Distribution or an Accumulation trading range one may ask ? So far, from the all evidence on hand, it appears to be the later (Accumulation). But, it may turn out to be a Re Distribution also. More data is required to conclude which, over the days/weeks ahead.
Retest of the SUPPORT (zone of $3.30) on 5th of April, re affirming that level as a significant medium term support going forward was also on hand.
At present, I am watching the resistance level around $3.55-$3.60 for further clues. Break above that level with a follow through over the coming days may suggest higher prices.
Disclosure : Held
ISD Daily Chart below.
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