CAY (ASX) bullish set upAlthough CAY ( ASX) is an information driven asset awaiting mining license, there is some bullish structure.
Currently the price is sitting at 0.045 this is insider price purchase and is holding steady.
After a large break to 0.078C currently price is forming a descending wedge on the daily / weekly.
If price can break-out and hold the daily 50ema: Potentially could see price go to 0.095.
- Remember currently nothing has been confirmed.
1 - We are awaiting break-out of wedge / 2 - and hold of daily 50 EMA.
- This is simply just a watch and wait strategy as there is good up-side potential on CAY if a breakout is confirmed and could potentially mean a mining license is close / if the structure is to complete.
