We're coming to the end of our 2 month triangle. I'll be looking for a clear break sometime in the next 100 hours. That presumes trade volume will increase, but in general it's fairly reliable.
Support 1: $55.85 (weak)
Support 2: $55.31 (weak)
Support 3: $55.00 (strong. This is the bottom of our triangle. If we break and hold below it then we risk a large dip).
Resistance 1: $56.56 (weak)
Resistance 2: $57.47 (weak)
Resistance 2: $57.89 or $58 (strong. This is the top of our triangle. If we break and hold above it then we can hopefully get a serious bump)
This could still go either way (1d is inconclusive, 4h is bearish, 1h is bullish), but personally I'm betting on an upswing.
P.S. As a side note: I drew the larger triangle about two weeks ago. Sometimes the simplest things work the best.
Support 1: $55.85 (weak)
Support 2: $55.31 (weak)
Support 3: $55.00 (strong. This is the bottom of our triangle. If we break and hold below it then we risk a large dip).
Resistance 1: $56.56 (weak)
Resistance 2: $57.47 (weak)
Resistance 2: $57.89 or $58 (strong. This is the top of our triangle. If we break and hold above it then we can hopefully get a serious bump)
This could still go either way (1d is inconclusive, 4h is bearish, 1h is bullish), but personally I'm betting on an upswing.
P.S. As a side note: I drew the larger triangle about two weeks ago. Sometimes the simplest things work the best.