days of consolidation by the year end. Currently it is retracing
somewhat after hitting the Monthly R1 on the back of a
break of the yesterday.
In a strong bull market price will not sell off by the R1
but breach it. Some hesiation is seen, but chances are more
advances will follow. Upward resistance above current level is
the new Yearly R1 at 1010 and the upper channel above that.
A really strong move may take price all the way to Monthly R2
at 1147. If price fails to continue here it may drop and test the
support, previous resistance around 870-85 level (red lines).
A close below this level may open up for a deeper correction.