Bullish Breakout on Daily Timeframe

There's been a confirmed bullish breakout from the descending channel of resistance.
This breakout could spark renewed enthusiasm to push higher towards the 50% fibonacci level that I plotted out on the chart.

The reason I'm targetting the 50% level is because it will likely coincide with the 100 SMA once we reach that level causing a confluence of resistance.

Wel Trade - Trade Safe