| It pulled back pretty good here today at about 10% here from the 71.70 low, 19% from the last cycle low. Closing below those numbers will signal a further decline, It has a directional change for tomorrow listed...this is one of the times you need a strong move in the same direction to keep the rally going...83.90 is a 23% Fib retracement that you would want to hold, closing below today's low would not be good. Tomorrow has a red trading cycle where a low is likely to be established, I've seen this before where it opens low and continues up to close higher on directional changes.
If it can close the week above 84 it will signal a trend change to the upside on a weekly basis. |