Price has Pushed back to the $0.55 level where it has found lots of structure this week.
After initially hitting the 61`8 fib from the last little impulse leg, price has bounce from this level and broken out of the descending channel.
Price has come back now to retest the trend line,
If price respects this level I would want to see a nice break of the $0.60 level.
If price breaks the trendline to the down side I still feel there is a chance price oculd push to the $0.49 level
After initially hitting the 61`8 fib from the last little impulse leg, price has bounce from this level and broken out of the descending channel.
Price has come back now to retest the trend line,
If price respects this level I would want to see a nice break of the $0.60 level.
If price breaks the trendline to the down side I still feel there is a chance price oculd push to the $0.49 level