Disliked{quote} NU - another view why I think it's bullish. First marked candle is a big candle, bigger than previous candles, but look at the volume, volume is lower than previous bars. It is showing no professional selling interest. Second marked candle closes below than the big candle on the left side, but look at the volume again. Volume is again lower than previous two, no professional selling interest there. It is just what I see. {image}Ignored
Indeed the waning volume at the lows is difficult to interpret here. With nothing more to go on, it is difficult to know if the waning volume is due to exhausted liquidity for the MMs to fill their long orders due to no more longs to stop out and too low for more shorters to be coming in, or if it is due to exhausted liquidity for getting their short orders filled due to no more longs coming in because they've become uncertain due to the low price.
This is why I fall back on "Let the Dragon and PA show the way" from Master Sonicdeejay. So long as the Dragon is angled down and PA is below the Dragon, bearishness takes priority in the face of nothing that is certain enough to contradict it.