I just updated the cup and handle chart that I posted a month ago and was surprised to see we are still in the handle formation, having since bounced off both the top and bottom boundaries a few times. As you can see in the chart below, we are running out of room and should see a conclusion very soon...likely next week.

One other very important note...the top downward trending line of the handle also happens to be the notorious 3-year down trend line so that may explain the perpetual walls we have witnessed of the past few weeks whenever approaching that range.

The price objective is $1.20 to $1.30 once it breaks to the upside.