A describes the drop of the price, a rebound, another drop to the same or similar level as the original drop , and finally another rebound. The looks like the letter "W". The twice-touched low is considered a .
There's still, as resistance, the red line, which was pierced since yesterday, and the 0.23 Fib level, at 0.000491.
is almost neutral in the , pointing at 47. is increasing since yesterday, configuring a condition for the . still is in a negative zone, but slowly moving above zero.
A conservative buy zone can be setup at 0.00045 below the red line. Another trading strategy would be to wait till VEN breaks 23% Fib level and sell at the yellow line. We can wait and see if VEN can break the yellow line and that indicates that the pattern is confirmed. That is, once the closing price is at the 0.00054.