How To Read Channels

bigger picture....I think the lower part of the channel will probably hit lower than my highlights, but just a educated guess....seems some support in the 705-710 area
 

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just a naked chart with the range on it
price itself is the most important 'indicator' and yet the most overlooked
simple , clean, and highly effective
 

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sorry for my crappy chart, at work and no access to strategy desk charts (blah blah i know ameritrade)....I see a downward channel since the start of the year in the orange channel lines.....but seems we have started an about equal distance channel down from the lower orange line possibly? will see if the red mid line on the orange channel holds on the blue channel up. look at the chart it makes more sense than my ramblings.
 

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