VEN Price Analysis
After forming some tweezer bottoms (yellow box) price gained upward momentum and entered a short term bullish channel.
If the price stabilizes in the center of the kumo (above the ~.5 fib) with a future break of the uppermost trend line this could cause a large run. That trend line follows back to the January ATH.
However, a few thing would need to happen.
A confirmed bull cross on the MACD
Continuation of the RVIs upward trajectory with a break of previous resistance levels. This should also be reflected on the Stochastic RSI.
Upward cross on the chikou and continued support of the Kijun as well as the price breaking the resistance formed by the tenkan sen.
If the price stabilizes in the center of the kumo (above the ~.5 fib) with a future break of the uppermost trend line this could cause a large run. That trend line follows back to the January ATH.
However, a few thing would need to happen.
A confirmed bull cross on the MACD
Continuation of the RVIs upward trajectory with a break of previous resistance levels. This should also be reflected on the Stochastic RSI.
Upward cross on the chikou and continued support of the Kijun as well as the price breaking the resistance formed by the tenkan sen.
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