Defiance Quantum ETF continues to trade in an uptrend and remains within the channel. After testing the support along the lower trendline of the channel, it is now trading at around $59.89 following some recovery in recent weeks. This week’s candlestick is heading for a positive week, a close in the green would, in theory, make a stronger statement for a higher low, establishing a new support level at $56.65 a share. A move below this support level could lead to yet another test of trendline support around $53.75. Investors should be aware of this possibility as the technical indicators are still in bearish positioning, the MACD does not seem like it’s starting to flatten and the RSI has only just come out of bearish territory (reads 50). However, as they are lagging indicators the price could just as easily grind its way higher. Hence, the first resistance to keep an eye on for the upside reads around $62.66. A move above would shift the focus to $63.43 followed by $64.63 and finally the high of $66.85.