Jun. 14 at 6:46 PM
$VALE has been building a potential cup-and-handle since March, and the structure is still intact. Last week’s piercing line suggests buyers are defending the handle area, while price continues to hold above the 50 and 200 MAs.
This is still a consolidation phase, not a breakout yet. The handle is basically where weak hands get shaken out before a possible continuation.
Right now price is stuck between support and resistance, so chasing either direction isn’t ideal. Better setups usually come after resolution, not inside the chop.
Key idea: wait for the handle to complete and let the breakout confirm itself.
