The double inside day compression pattern denotes a potential breakout scenario. Take cue from the direction of the breakout. Upward breakout will result in a rebound from the immediate support of the dual upper boundaries of the blue channel and challenge the orange resistance zone. If the orange resistance zone is cleared the red bold dual resistance band will be tested.
Conversely, a downward breakout will demolish the immediate support of the upper boundaries of the blue channel and test the red dotted band support zone. If further weakness persists support will most probably be established at one of the following support zones:
1. Lower support boundaries of the blue channel
2. Green trendline support
3. Congestion rectangle 1.59 to 1.56 range support
4. Double bottom buffer zone
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