VALE Testing top of Ascending Triangle

VALE Is testing the upper bound of a textbook ascending triangle pattern: well-defined boundaries, and decreasing volume. Implied Price Target ca. $26 upon a successful breakout.

If traded through delta (cash), there's a nice 3:1 reward:risk up at the PT with a stop at $21.80 (ca. $1 below resistance).

Reward:Risk Analysis

• Reward: ca. + $3 (at $26)
  
• Risk: ~ ca. $1 (approx. middle of triangle).
  
• Reward:Risk : 3:1