Biotechnology Breakout Imminent

I hadn't appreciated this at first but LABU/XBI have been in a massive condensing pattern since about September of last year with support from New Years onwards. It is imminently about to breakout with an amalgamation of EMA/SMA lines and three touches on the upper resistance line. A breakout above this, which I think after Saturday's news of suspended China-U.S. trade action, is all but assured and could be extremely bullish for the Index in the near to medium term.