Show here is the 1 day chart bull pennant
. I will post the 4hr chart below this to get a better look at the cup and handle
. The top trendline
of the bull pennant
is overlapping with the rimline of the cup and handle
pattern...which is currently causing double reinforced resistance...I believe however by the apex of this 1 day bull pennant
(next 1 day candle) that we will be able to flip that resistance to double reinforced support and continue our breakout upward. We should know by the next 1 day candle....of course always wise to be prepared for the exact opposite outcome as well.