finally closed another 4hr candle above the descending channelExciting to see we have closed another 4hr candle aboe the descending channels top green trendline. We need to be cautious here...as the alst time we closed above the channel the very next candle instantly dropped down under it and it took us about a day before we had the momentum to rise above and close above the channel again. Watch for the channel line to hopefully have switched from a line of resistance to a line of support this time around...if we get a bounce up off of the green trendline that's a very good sign that we might even close our 1 day candle above the trendline. All we would need then to confirm the breakout is for the very next 1 dayc andle to also close above it. AIf all that can occur then it's all systems go...but for now it is still very possible that we could see this upcoming candle act just like the other 4hr follow up candle acted the last time we closed above the trendline. If the trendline is now acting as support my guess is the top fib extension line at 10900 is where are biggest current resistance will lay. Tread carefully out there until we can determine legitimate resistance and support lines.
