This channel has existed since the beginning of November 2020, when there was a false breakdown of the resistance line, the upper border of the channel 3603.3. The second guide line is the support line formed in September 2020.
Despite several false breakouts that the price has made over the past months, it continues to rise in the channel and is now at the reversal line. A few days ago, the price touched this line at 3836.2 and reversed downward. So now I expect the price to continue to fall. So our final target is support line 3764.9.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Interesting analysis though. On the chart I draw this last chop has been on the verge of breaking out of the channel, with its peak well out. Anyway, time will tell indeed.