Thus, the upward trend is likely to continue in the near future. After a few trading days, the resistance level of 282.26, which is on the upper bound of the green channel, may be reached. If the bulls break above this price level, they will open the way to the upper yellow bound and the resistance level of 316.36.
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The implementation of an alternative scenario is possible if the market starts to move down and the bears move the price below the support level of 247.66, which is on the moving average. In this case, the decline may continue to the lower green line and the support level of 229.67.
