[Nick1984]

Its going to be hard to answer this without referring to the recent Fed interest rate cut. On candles alone there looks like theres plenty of buying pressure but that was sparked off by the aforementioned intervention. After 3 weeks of steady falls people have been buying in at bargain basement prices and the Fed announcement boosted things along nicely.

On the candles alone I would say that we are going higher again. The strong volume on that last candle is telling. Even though it's red I would see it as being red simply on behalf of a late sell off by profit taking (I haven't checked the intraday charts so I'm assuming) which made the candle close lower.

Edit: I just noticed that its a monthly chart! Silly me. Anyhow that doesn't really change my oppinion. I think we'll be going back up again.