Price has been trading in a short term bearish channel since August 26. Now price is testing the resistance level of the channel.
Scenario One (Bullish Breakout): Price breaks resistance level of the bearish channel, look for consolidation above the respective resistance level above $7150.
Scenario Two (Bearish Rebound): Price rejects bullish breakout, potentially moving back to key support level at $6800.
Scenario One (Bullish Breakout): Price breaks resistance level of the bearish channel, look for consolidation above the respective resistance level above $7150.
Scenario Two (Bearish Rebound): Price rejects bullish breakout, potentially moving back to key support level at $6800.