EL may be entering a new channel It is currently at a very strong resistance line meaning anything can happen. If it is strong enough to pass through the BLUE reistance, it will then be in a new trend (Blue Trend)
IF not, since it looks very over bought, it is going to go down and retest the PURPLE support. It may find support here but it is possible it wont and it may go all the way back down to the blue support line.
