MCP to create an upward channel?

Looks like MCP has created a higher low last week and is poised to move upward to touch the resistance slope. If indeed it will create an upward channel then we might see MCP hit 12. But before that will happen, it needs to break the immediate resistance at 11.51 or 127.2% Fibonacci Retracement level. The Kijun Sen line that is moving horizontally at 12.31 may also help pull the price up. The gap above is still there waiting to be filled.

RSI or Relative Strength Index is currently at 34.9


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