LOTCHEM | Falling Wedge Pattern

The price action is currently confined within converging trend lines, indicating the potential for a breakout. Consideration may be given to initiating a long position following a breakout from this pattern, with a stop loss set at 18 to mitigate potential losses in the event of a downward break below the channel. Initial resistance is positioned at approximately 21, with a secondary resistance noted around 22.15. Upon successful breach of both resistance levels, attention should be directed towards a prominent supply zone positioned near 24.43.