An important low appear to have been printed at 1160. CFTC commitment of traders (COT) appear to confirm this with extreme commercial long and extreme speculative, an ownership profile that statistically coinicides with major lows.
After breaking above 1200, I am watching the ascending Pitchfork formation for continuation to the upside. Intraday 1200 is holding as support. If broken the next major support is at 1180. I will abandon the bullish view on a break and daily close below 1180.
After breaking above 1200, I am watching the ascending Pitchfork formation for continuation to the upside. Intraday 1200 is holding as support. If broken the next major support is at 1180. I will abandon the bullish view on a break and daily close below 1180.