Yum! Brands $YUM has been in a bullish channel since rebounding from the 2016 low at $46.45 a share. It has recently tagged $87.50 and retreated. It is now testing the channel support.YUM Daily Chart(click to enlarge)Scenarios Around the Key Support:- I think the area around $80.00 will be key.- Here we have the channel support as well as the 100-day simple moving average (SMA)- Simply put, if price closes below $80, we could be in a consolidation mode, with bearish outlook at least down to the $77-$77.50 area.- If price starts to find resistance around $80 or $82, then we can be more confident of a deeper retracement.- If price holds above $80, the overall bullish channel remains intact, forgiving brief cracks.- The thing is, unless price clears above $85, the market is still at risk of further consolidation (choppy sideways action) and eventually a bearish correction.