Possible long term play with short term correction.
The price have reached upper channel line (resistance) and due to market condition can
a) form a handle of a cup and than go higher or
b) break the line (after break retest may happen)
and than long based on measured move
or
the price can't break the resistance and rejection will be a downward move to the bottom line of the channel.
One should notice that on weekly chart RSI is approaching to overbought zone (highlighted green dots).
Not an advice or recommendation, just an observation.
a) form a handle of a cup and than go higher or
b) break the line (after break retest may happen)
and than long based on measured move
or
the price can't break the resistance and rejection will be a downward move to the bottom line of the channel.
One should notice that on weekly chart RSI is approaching to overbought zone (highlighted green dots).
Not an advice or recommendation, just an observation.
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