On 6/2/18, I posted ''Price is testing confluence of pivot and rising TL at approximately 63.40. A break and daily close below could accelerate losses with major pivot at 59 as 1st target''. As typical of legit breakouts, price dropped very quickly to hit 1st target at 59 and even surpassed it. However the long daily candle wick suggests price might consolidate around here or correct higher towards 63.40 before dropping further to next pivot around 54.90. Lets see what happens.
@smartstep78, I think so if it breaks that 54.88 pivot. Also bear in mind the 200 MA (daily) is currently at 52.50, but this has not been a reliable measure of support/resitance for this intrument.