This is not a trade set up
Venture have been ranging from Aug20 until now between support 19.00 and resistance 20.70. This is a relatively tight range. During this period, down moves have higher volume compare to upmove which is lackluster. This is a sign of distribution taking place. Should support at 19.00 broken, we are likely to revisit 15.70. Traders should avoid long position unless price break out out 22.00. Otherwise, bulls will be much better of waiting at 15.70 for a better entry.
Venture have been ranging from Aug20 until now between support 19.00 and resistance 20.70. This is a relatively tight range. During this period, down moves have higher volume compare to upmove which is lackluster. This is a sign of distribution taking place. Should support at 19.00 broken, we are likely to revisit 15.70. Traders should avoid long position unless price break out out 22.00. Otherwise, bulls will be much better of waiting at 15.70 for a better entry.