Prices are rallying so far this morning. With the large gap on the chart yesterday, it would not surprise me to see prices attempt to fill that gap. That target is quite a bit higher at 5623.25, so we will have to see if prices can muster up that type of rally today. I like the cyan colored channel, but it looks as if there could be a larger two-tiered channel as well (light blue channel). I found that one by starting off the highs since nothing was confirmed on the low side. Time will tell if it is valid or not.
Watch that one closely to see if it comes into play or not, as we won’t know for a while most likely. It may not be valid but is something to watch for now. Either way, the trend and bias are up for now, so stay with that until the price action shows us otherwise.
