Price has been travelling in a large ascending channel, we experienced a fake out to the downside, price made its way back into the channel annd shot up all the way up to the previous resistance point which is quite significant. We saw a major drop the last time we were here, can it happen again down to the bottom of the channel?
We believe so...
Price is currently being held up by a small support which we believe is about to be broken as the steep trend line it was following on its way up has now been broken.