These lines are moving towards each other and soon they will cross. As we can see from the chart, the frequency and size of price swings become smaller as they approach the line crossing. This means that soon the price will break through one of them. But for now, I expect the price to continue moving between the lines in an upward trend.
At the beginning of last week, the price touched the support line 126.21, then rose to the resistance 127.52 and fell again. Now it is exactly on the support line 126.58, along which it has been moving for the last two days.
The price is in no hurry to break through the line. Moreover, this line has not had breakouts for the entire time of its existence. Therefore, I expect the price to bounce off the line and go up. It will come to the resistance line at 127.69. This is our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻