honestly does anything matter anymore?...
anyways, point is we have entered the channel occupied pre-covid. We have already hit it's ceiling (see hand pointing)
Now we test the bulls. If support holds mid-channel. we will probably begin an attempt to enter the sur-channel region, just above the 230's.
I believe we won't initially hold 310 however, given the psych-influenced support built around whole numbers especially round-hundreds. this will also toss creedence to the 50 period which is sitting comfy just above the channel floor.
Does this ring any logical bell?? I thought so. So why even bother posting such nonsense? Thank you!
And now to your question - no, even the channel you point out doesn't matter anymore. Its all wishful thinking, nothing more. Its looking for reasons for one side or another. Technical analysis is not being respected as it used to under current covid conditions so i would recommend to look deeper on not looking at all.