NQ1!, Uptrend is intact

The market is in a steady uptrend since November. It remains quite resilient. A few attempts to break the channel in either direction have failed. The recent rejection at the upper edge of the channel sent the price to retest the lower edge. A potential scenario is to establish a consolidation area and move out of the channel in horizontal direction. That would confirm end of that particular trend and preparation to start a new one.

2/21/2021