$PYPL
Added 2023-07-07 14:31:26 +0000 UTCWe can see that the price action broke out of the descending bull flag and pulled back to test the support line and flag again, this has been successful so far and we can see that another yellow channel has been formed between $70 and $66.
Usually the trend leading into a channel, will continue in the direction of the trend once the channel is broken out.....so we can see in this case that the trend leading into the channel was an upward trend, so we expect this to continue to the upside. This is of course the theory so we need to see a test of the upper limit of the channel first.
I like how it held support very well, 5 times now on the $65 line and the structure remains in place too.
