Price is likely to remain stuck between resistance at $850 and support at $770 until Monday. However, drilling down to the lower timeframes shows that a bearish trend could breakout if price gets below $750. Price would then find support at $690.
we're consolidating very bullishly in an ascending triangle formation just below $850 right now on stamp, and my calculations anticipate a breakout within the next 18 hours, give or take. we still have a lot of volatility to work through after the panic selling we saw yesterday, so i'd be surprised if we stay within that range until Monday.
Breakout up or down?
nothing's for sure, of course, but my money's on up.
edit: i phrased the timing incorrectly, so allow me to clarify. breakout in 18 +/- 9 hours.
of course, i do also see a possible larger consolidation pattern that would coincide with the OP's claim of staying within the range until about Monday, but my model is predicting something a little messier than that.
