Well, glad you asked.... I'm going to draw some very rough lines all over a 30 minute chart. It does look very much like an ascending wedge is forming. The target of a breakout above 8 would be 9. Characteristic of this formation is the drop in volume towards the pointy end where supply is drying up. Typically the break up will some volume come back in, that might be on the back of an announcement or "just because". Think about how you might be feeling right now if you wanted to by in at say, 76, or a large parcel at 77. There just isn't the supply there, or it's very much drying up, so the market starts feeling a need to pay higher prices and there's your break. I'm mindful as well of current global forces, time of year etc etc. Whilst XPE coming off the boil like it did didn't exactly please me it's performance off 6.9 has been very strong given overall conditions.
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