Rotation around POC
as centerline is an appealing support level
for traders on an overlay basis. If the centerline of the ascending channel
is violated expect a balance in 29.60 to be the next support. If the 29.60 balance cannot be held, expect 26.31. We want to watch how far do traders push price from POC
, then find extreme and revert to mean. This could all be encapsulated in the channel. Thus, lower channel rail is plausible.