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1.) This is the dominant pattern that has guided trading for the last five months: a broad channel with a rising bottom and an upper band around ~92.20. Now, some may ask why I didn't draw the line to the top point like this:
That is a judgment call. Before prices broke through the upper trend line they ran into a great deal of resistance in the 92.20/92.40 range. That makes those price levels technically important. Also note the prices broke through that price level on high volume -- another technically important event that highlights the importance of the ~92.20 area.
A.) Prices were in an uptrend since the beginning of August.
B.) Prices broke through resistance on strong volume but couldn't maintain that level.
C.) Prices broke through the upward sloping trend line and are currently finding support at the 200 day EMA and resistance at the 10 and 20 day EMA.
