The daily chart
shows that price has been moving within the boundaries of a descending price channel
until January 4 when price broke out of same channel at the upside. With the break out of price the upper line of the price channel
has now changed its character from resistance to support. The zone between, roughly, 410 and 400 is now a supportive region which has been tested back on January 11 and which could be tested one more time before price hikes up.