Lucid breakout?
I'm liking the look of this inverse Head & Shoulders forming, as well as approaching the down trend resistance we've been in since November. RSI broke this downtrend a while ago and recently re-tested, so I'd expect to see similar happen on the chart.
We're also in a descneding broadening wedge, recently bouncing off the bottom and looking to head towards resistance.
Waiting for confirmation will be the best trade, breaking $20 then getting a successful re-test of the neckline and trendline. My take profit target will be $25 to secure profits of about 25%, although it may overshoot to previous resistance of up to nearly $30.
We're also in a descneding broadening wedge, recently bouncing off the bottom and looking to head towards resistance.
Waiting for confirmation will be the best trade, breaking $20 then getting a successful re-test of the neckline and trendline. My take profit target will be $25 to secure profits of about 25%, although it may overshoot to previous resistance of up to nearly $30.
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