This is purely a technical analysis without any regard to politics. XPD has shown price breaking out of a downward symmetrical triangle. This breakout looks to be genuine and now to make it decisive, price needs to remain outside the triangle. This is usually accomplished by putting the first set of impulse waves.
The microwave count shows waves 1,2 and 3 complete and 4 is in the works. Exactly which of the 36 pattern or wave sequence option wave 4 will take is unclear for now; however, the impulse would complete with a wave 5 up. Often this wave 5 finishes higher than the starting point of the wedge.
Volume spike and increase was accompanied by the breakout activity and this is good to see. Sustainability of a breakout is indicated by volume. One should also set an expectation of higher than normal volatility for XPD as it is quite immatrue in liquidity.
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