RFT weekly displays a perfect definition of an ascending wedge. Formed over a longer period this type of formation is usually a reversal trend tool. However, in this case todays breakout from the opening was actually a buy signal on the weekly. False downward breakouts around 1 & 2 emphasises the importance of waiting for sustained breakout movement which would have been bearish. Given this formation (& note other positive indicators) dare I say I think at any price above top of the wedge 4.7c(ish)+ this is a buy and will spike further.
RFT weekly displays a perfect definition of an ascending wedge....
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