has been travelling in a (BLUE) descending channel
and has also been following and testing a (BLACK) descending trend line
multiple times inside of the channel. Price on the daily chart
made a sharp
move upwards yesterday breaking above the previous resistance zone
(now support) and also the black trend line
. Depending on the closure of today's candle we will be seeing a move upwards to the top of the channel.
Price has also tested the 0.618 retracement
zone on the downwards dip and shot upwards which suggests a change in trend
Our target is shown above at the next resistance zone
which evidently lines up with the top of the channel perfectly.