Bullish Cup and Handle setup for Arafura Rare EarthsARU is setting up beautifully with a classic cup and handle formation on the daily chart. This is a well-defined bullish continuation pattern with strong convergence across technical indicators, price action, and volume structure.
Key pattern breakdown :
- Rounded cup base formed over April–June.
- Price rallied into resistance (~0.22-0.23c AUD), forming the right side of the cup.
- Currently in a healthy pullback phase, building the handle.
Watching for support at 0.195–0.200 to hold, which aligns with:
38.2–50% Fibonacci retracement
Mid-Bollinger Band
High-volume node on the visible range volume profile
RSI remains in a bullish uptrend, now cooling off and testing trendline support.
