Resistance

This is a Flag pattern in a down trend..... resolves down.....

But... When you are "Range bound" Many times what you do is count the number of times you test a specific resistance.... So, the upside we tested 3 times, and now the 4th.... After testing the top 4 times and the bottom Twice, it says we break out....THE MORE TIME RESISTENCE IS TESTED THE MORE CHANCE THERE IS WE BREAK IT.

We still could fail. It's all the short interest in the market, It just keeps providing upside to the market, all the bears are "All IN" and don't have money to put to work.