GLD bounce from channel bottom - targets 166, 171

Last week GLD price came all the way down to the bottom of the blue support region and tried to push lower (below 158) but the channel support line (white) held firm. Now I am looking for price to bounce up to moving averages and/or channel top. This gives targets of 166 and 171.

The dotted pink line connects closing prices on a line chart. The solid pink line connects high prices. Since I bought April calls using very little capital, I have enough time and comfort to hold the loss and see if price moves higher. I am using the hourly and daily chart for this trade.