Three Descending Channels

Although the first two channels are not as clean as this third one, three drives down in price that mostly remained in channel are worth noting.

The interesting thing is that the slope of the channels has decreased on each drive down. This is indicative of bears losing steam.

Also, looks like the top of the current channel should line up with about $6,000 on July 4th week... would be nice to see a breakout of the channel, and then a re-test back down to test the top of the channel before making the real move out.