After several consecutive higher closes, this last candle turned the excitement into disagreement.$ASTER Volume in the complete 20:00 hourly candle was about two and a half times the average of the previous 20 candles. Price moved above the high of the previous 12 hours intraday, but ultimately closed back below the old high. Volume increased, but the upward move failed to hold its gains.

For now, I’m classifying this test of the highs as a failure, rather than using the phrase “surging volume” to make excuses for it. 0.7347 was the 19:00 high, and the level briefly exceeded this time; only a full hourly close back above it would justify revising that assessment. If the 20:00 low of 0.7289 gives way, the increased volume will have accompanied a deeper pullback. What really makes me cautious is that after a run of consecutive gains, the busiest hour of all failed to produce a breakout.