Price currently moving in an uptrend channel & facing recent Support at 1656.61, Resistance at 1667.68. Now if price respects the support & closes above the resistance then it could continue its uptrend channel move to continue pushing up to the next resistance at 1678.98 as shown in chart.
However if price respects the recent resistance at 1667.68 & closes below the support or the recent low then it would be a breakout of the uptrend channel which could lead the price to continue pushing down to the next support at 1639.58.
However if price respects the recent resistance at 1667.68 & closes below the support or the recent low then it would be a breakout of the uptrend channel which could lead the price to continue pushing down to the next support at 1639.58.
