Title says it all for this chart on the daily timeframe for BMI
Previously a resistance point, currently a support
Price at the prior resistance hit the upper band of a channel in grey
A smaller channel can be drawn supporting possible bullish movement (in green) at the current support area.
Previously a resistance point, currently a support
Price at the prior resistance hit the upper band of a channel in grey
A smaller channel can be drawn supporting possible bullish movement (in green) at the current support area.