The price made a channel formation bouncing from the support and resistance lines. Right now we can see another retest of the resistance line, providing us with two different trading possibilities.
One is to trade a breakout which I believe will happen either at this or the next retest in the bullish direction. The other is to trade the movements inside the channel.
As it looks right now, the bullish momentum is not strong enough to make a breakout above the resistance. Looking for a confirmation of the resistance and a bearish move towards support. Breaking the resistance would indicate a strong bullish momentum, driving the price higher.
One is to trade a breakout which I believe will happen either at this or the next retest in the bullish direction. The other is to trade the movements inside the channel.
As it looks right now, the bullish momentum is not strong enough to make a breakout above the resistance. Looking for a confirmation of the resistance and a bearish move towards support. Breaking the resistance would indicate a strong bullish momentum, driving the price higher.
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