The red resistance lines are resistance targets derived from past data using proprietary methods which I've deleted and hidden from this chart. That being said, we pegged one.
In this same consolidation period, we've been forming a bearish head and shoulders pattern, some nasty looking candlesticks on this and larger time frames, and have now defined a triangle of interest.
I'm interested to see how this unfolds and if we break through to higher resistance points, but things are certainly not looking pretty.