In the chart above we are taking a look at CN1! in the 16 hour timeframe. 1. CN1! reaching an end to pennant formation in vital channel support. 2. Previous pennant breaks in current channel level has been bullish in the past. 3. Important to break past 13300 Supply Ceiling. 4. Channel deviation of 500 points. 5. Channel Above = 13800 - 13300 , Current Channel = 13300 - 12800 , Channel Below = 12800 - 12300.