held the 200 wma at 1233/32 & shot higher exactly as predicted to the 500 dma target at 1255/56. We topped exactly here by further gains are expected in to the end of the week to 1260 & perhaps as far as 1264/65.
A short term pullback from 1255/56 meets support at 1252/51 then better support at 1246/45. Watch for a low for the day. I do not think we will test the 200 dma at 1233/32, but if we do try longs with stops below 1227.
Spot bounce from very important longer term trend line support at 1590/80 reaches the first target & resistance at 1603/06. On further gains look for 1617/18 & strong resistance at 1622/25.
The outlook is positive as long as we hold above 1590/60. An unexpected break below 1540 however favours the bears & targets 2 year trend line support at 1520/10.