Why $450? Has there been a lot of buying around $450? Apart from that possibility, I'm not seeing anything about $450 that suggests there'll be resistance - the only significance I can see is that the last peak reached $450 - but that was in the context of lower peaks, higher troughs.
I expect resistance around $500, however, due to the November high.
the market is currently in state of repeating. we have seen the price move in the direction of $450 before, and it didn't even make it to that price level. for some reason it won't go much above that price level, and yes, i agree that the charts don't show anything special at these levels, but i find it very weird though.
Thanks! I see the repeating as being within an ever-diminishing range - $200-500 in October-November, $320-470 in December-January, $360-450 in February-March. I view this as (a) a sign that a breakout from this is imminent (good news for traders desperate for volatility), and (b) that support and resistance levels are sloping, not flat.