I'm personally a novice at charting, and you're right it's easy...

I'm personally a novice at charting, and you're right it's easy to see with the naked eye it moving between 90c and $1. I guess what I find useful about this is it shows the other support/resistance lines and I guess a stronger "confirmation" of the trend.

Although there have been lower highs and lower lows in previous months it does look like it's consolidating. There is a moderate amount of shorts as well (3.87% as of 2-Feb) which might provide a nice squeeze if the results are positive.