The breakout above the green band has confirmed the double bottom pattern formed at the lavender base support zone. A measured move projection calculation has established the dark orange band as the target price of this double bottom breakout. This can only be achieve if price can overcome the bear grip of the Ichimoku Kumo Resistance followed by the dual resistance lines of the red channel and the dark blue resistance zone.
Take note that if the major support formed by the green band and the 100EMA fails a retest of the beige, light blue and lavender support is imminent.
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