Price action broke through the neckline and the measured move puts us in the $280-$290 range which also coincides with the Fibonacci retracement level of 0.618 from the down trend.
XCP has kept true to a long weekly horizontal channel. The downtrend was broken with a double bottom and we are now at a strong resistance at the top of the channel. Keep an eye on volume to see if we can break though, or if we are coming back down.
