Thoughts on $X and the 55 level

Been watching $X closely this past week, particularly around the 55 area. It's really acting as a magnet. We saw it brush 54.89 today, and the market seems hesitant to push through cleanly. My read is that a sustained break above 55 on decent volume could open up a move towards the 57-58 range, but until then, this resistance looks pretty solid. The risk to that view, of course, is a sharp rejection from 55 back towards the 53-53.50 support, which wouldn't surprise me given the recent whipsaw. Implied volatility for the near-term options is still elevated, which makes for interesting premium if it stays range-bound.