Pre-market Chart

Good morning traders!

We just saw a massive spike due to a positive PMI news event.

Prices broke out of the uptrend structure and are now forming a bigger channel. We have to see further price action to decide about a bigger structure in play.

The bias surely is up for now, giving this spike the following day could be trending higher as well.

I am looking for longs and trying to find channel structures that are fitting to the bias.

Good trades to you!