In the previous weeks, we have seen a prolonged upswing of the market inside the yellow channel. Most likely, the bulls aimed to reach the upper bound of the green channel and the resistance level of 8625.
Not so long ago, we saw the price rebound from the lower yellow bound, after which the bulls continued their growth. If they have enough capacity, the previously stated goal will be achieved.
However, if the bears intercept the initiative, we will see a break of the lower yellow wall and the support level of 8289. In this case, the market may open the way to the lower green wall and support of 7810.
Let’s continue to observe how the price will behave inside the yellow channel.
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