Initially, I wrote that we could expect a break to the downside where there'll be a better entry for a short. But the entry price never struck and the price turned up intot he channel. Price is now breaking above the down channel, indicating a chosen direction - Up. Other signs show some upside 7>21 RSI>50 - Bullish Target R226.76
WARNING I'm not too convinced yet and will need a stronger breakout and maybe even for the price to move up, test the support then bounce giving a conservative entry.
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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