Always good to pull up the longer term charts to get a reference of where price currently sits compared to previous years. As the chart shows since the Covid dip and historic recovery price has broken the longer term channel is now trading in a new plane with a steeper trend. It feels a little parabolic but there appears to be a fair bit of room to the top of the new channel. In typical times a pull back to the top of the old trend line would make sense, but today who knows. Best just to ride the trend until it ends.
