Prices are rallying at the moment, but they just completed a measured move up of the original range width from the overnight session. We will have to see if that is the target to the upside for today or if the rally will continue. I do see a mild uptrend, and that channel appears to still be in play if it can win out over the range pattern. One of the patterns will end up being the dominant pattern, but as of this post, that is difficult to determine, as we need some additional price action to know for sure.
As of now, I would call this a mild uptrend. Stay with that until the chart shows us otherwise. Take note that the range could win out and the resistance could turn the rally lower again. So far, that does not appear to be the case, but that could be shaping up, so keep an eye on that possibility.
