EDC continues to consolidate inside a falling wedge area pattern, with breakout points seen between the 6.05 to 6.20 levels, with initial price target seen at around 6.70.
However, it also appears that the price is consolidating inside a bearish descending triangle area pattern, with the support level seen at 5.90, and initial price target of 5.30 upon breakdown.
With these two scenarios, what to do next? Well, the best way is to wait for a price breakout, which should be a signal to buy. Still, should price breakdown from the descending triangle, it would be best to stay away from this issue, and try to pick up at the 5.30 levels, provided that price action holds above the gap.
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