Hello & welcome to this analysis
In the monthly time frame a comparison between the period which happened between 2018 - 2020 and the current one from June 2022 till now suggests a lot of similarity in path.
In the current scenario its taking support at the lower end of the channel and consolidating. if 17300 is held then it could resume its uptrend for the...
We can see the price of Orchid has tested it's strong downward trend line on multiple occasions historically, and has been rejected on every attempt.
In reality there's only a couple of months left until this final section of the wedge formation OXT seems to be trapped in finally closes up and the price would then have to find a new natural trend.
This can mean...
Based on the chart, the price is close to the parallel channel support area and in triangle pattern,
the price doesn't break the support zone to the downside and form the ascending channel, we will see more gain, at least to our upper trend line 🚀
we can see more correction to lower support level before hitting the upper resistance area...