A low volume test bar will always be a down bar. The bar before the bar you have marked would have been considered a test bar, but with the next bar up on lower volume it would be a failed test. After this there is more down bars making lower lows with increasing volume which shows further weakness. Then comes another high volume up bar closing off the highs which again shows weakness to me. At that point I would have stayed in the short. This just what I am seeing and I am by far no expert. Maybe Malcolmb or one of the more advanced guys could clarify further.
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