So this is it. Pennant/Flag, call it whatever, price action enters into a nice consolidation pattern with a possible break out that could define the direction in the near term.
1) To the downside, price could drop to a minimum 89.86 - 89.51 levels (previous resistance levels), now turning to support. Next support below comes in at 88.36.
2) To the upside, 98.05, again a past broken support level.
At this point, a break out to any direction looks very valid. A bearish close on the weekly will confirm the hanging man and could see declines.
Good luck!!
1) To the downside, price could drop to a minimum 89.86 - 89.51 levels (previous resistance levels), now turning to support. Next support below comes in at 88.36.
2) To the upside, 98.05, again a past broken support level.
At this point, a break out to any direction looks very valid. A bearish close on the weekly will confirm the hanging man and could see declines.
Good luck!!
