The cup and handle formation seems perfect with volume drying up on the way down and increasing on the way up in the formation of the body of the cup. The handle appears to be the right length too forming on the upper half of the body of the cup. The stochastic indicator is also at an oversold position. Theory and history suggest that spectacular moves upwards begin from such a base formation. A move upward from this point on with an increase in volume would confirm this to be a valid pivot point. Personally, I have already initiated a long position.