Page 99 - A Complete Guide to Volume Price Analysis: Read the book then read the market

The final candle in this group was then followed by a bullish engulfing candle, and the following day, with a gapped up move higher. HOWEVER –
note the volume on the gap up, it's LOW. Is this a trap up move by the insiders? It certainly looks weak, and the volumes following the move higher
are well below average. But note where we are in the overall price action. We are back where we started in terms of price, and this is therefore an
area of potential price resistance given the earlier failure at this level. So we should be DOUBLY on guard. A gap up move on low volume, and
resistance ahead !!

So what happened next?

Fig 10.12 Duke Energy (DUK) Daily Chart - Moving Forward

Duke Energy stayed at this price level price of $65.75 for several days, before finally breaking above the resistance area, and then moved steadily
higher on steady volumes. Finally, the move runs out of steam, and volume as always tells the story. Right at the end of this trend we have three ultra
high volume bars, beneath narrow spread candles. Is the market strong or weak? And the answer of course is weak, and we see the price fall
sharply. But once again, the selling volumes are average, so clearly not a major turning point for Duke Energy which continued higher and remains
bullish, for the time being. At time of writing Duke Energy is trading at $74.41.