JSE:MRP: Mr Price Redistribution
Last month (see link below) I was looking at the trading range as redistribution. The pullback was all the way to the resistance line of the trading range forming a Last Point of Supply (LPSY). There has been divergence with the Volume RSI first with a positive divergence with the Upthrust after Distribution (UTAD) and now negative divergence with the UTAD and the LPSY. Expecting the markdwon in Phase D to start and break out of the trading range. Once the pullback to the trading range has then taken place the markdown in Phase E will possibly take place. Price could find support at 18600, 17600 and possibly as low as 15600.
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