Hi all, not an expert by any means, fairly new to reading charts (6 months) and for sure not financial advice.
I've applied a new trend line on the daily chart with a top middle and bottom, showing where price seems to find support or resistance. I have a feeling the long term trend line is broken (lets be honest is couldn't continue that way forever). I see the downward channel is still in play but the (new) longer term trend line is being honored. So I am keeping a close eye on the formation - expecting some kind of breakout from the downward channel in the near future.
I've applied a new trend line on the daily chart with a top middle and bottom, showing where price seems to find support or resistance. I have a feeling the long term trend line is broken (lets be honest is couldn't continue that way forever). I see the downward channel is still in play but the (new) longer term trend line is being honored. So I am keeping a close eye on the formation - expecting some kind of breakout from the downward channel in the near future.