VET still in wedge formation
VET has recently tested the upper wedge line, revalidating the importance of it. On 4 different occasions it tested the upper wedge line before coming back down.
From here we might push past the wedge line to 0.06. But it is also equally likely to range in this wedge longer, consolidating strength before pushing out of the wedge into new highs past 0.06.
End of wedge formation stands at 19th February.
If you do not have a position, enter after the validation of the upper wedge line as support upon breaking the formation upwards. Alternatively you can enter after the retest of the 0.06 resistance as support much later, which might not happen if we do blast past the resistance level with much momentum.
Price action to confirm analysis
From here we might push past the wedge line to 0.06. But it is also equally likely to range in this wedge longer, consolidating strength before pushing out of the wedge into new highs past 0.06.
End of wedge formation stands at 19th February.
If you do not have a position, enter after the validation of the upper wedge line as support upon breaking the formation upwards. Alternatively you can enter after the retest of the 0.06 resistance as support much later, which might not happen if we do blast past the resistance level with much momentum.
Price action to confirm analysis
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