expecting reaction near 0.786 fib zone

Technically a rising channel in what looks like a uptrend can be a sign that reversal could be in play in the possible future and price to retrace back to the higher low which is the support before trending upwards again. support and resistance zone are our areas of play and chart pattern happen with that area , it is only a matter of understanding technical analyses tools and trying to apply to the charts. Possibilities of being wrong or right are only determined by the outcome.