Last few days we did have a nice price movement to the North. The price moved from the bottom at € 41,- to € 58,- yesterday. This is a profit of 41% if you did buy when at € 41,-.
Looking to the chart, there is still enough space to move further to the North.
On the weekly chart there is a negative trend channel. The price has bin pushed outside this channel because of COVID 19 lockdowns. When the price will move to the € 65,- €70,- area it will come back in this channel. Current movement is a correction of the big push down because of the lockdowns.
For the long term we will have to see what will happen when the price moves to the upper side of the negative channel. Before we will be there the price have to go back to the area € 100,- / € 120,-.
In total: - Price can go further to North, area's of interest are € 65/€70,- (support channel) and €100,-/€120,- (resistance channel); - For thew long long term, it's hands on specially when the price is back in the big trend channel.