Sunday eve @843
upper time frame pressures remain up but still inside the long term down move.
845, which signals a retracement of this 2008 down move on the monthly, has been touched. i expect a pull back and then a move up thru that level.
The 942 January high will be significant.
the cycles show side ways pressure thru the end of April.
the lower time frames will guide us.
Daily – we have traded up thru the new long Entry price at 821 with multiple targets at 865.
the weekly is at resistance at the 850 area.
A trade down thru the 779 level stops this upmove and sends us down to 702.
Intraday is showing a new short cycle down move if we trade down thru 828 to 814/801/787.
Touched the 822 intraday Friday but reversed to the upside. Sun nite trying break the highs.