It is evident that the white and blue channels are valid, as the price has respected their lines. The mid-channel line of the white channle provided support, as the top of the blue channel provided resistance. This has hence formed a descending wedge which I believe will result in a bullish breakout. If the price reaches the local high within the white channel, the green arrow shows the potential price movement (up to the arrowhead of course). The RSI is also rather low.