has been travelling in a descending channel
marked out in black. Price recently hit the top of the channel and has started making its way down, on its way it has formed another descending channel
marked out in blue. Right now price is at a major support level
, It has previously been tested in the past very strongly. If price breaks above the descending channel
we could be seeing another test of this area and make its way back up, or it could break below this area, retest it before dropping to make Lower Lows.