[B]Bias: [/B] I look for the rally to extend above 115.41-67 and to 116.58-89 before correcting lower
Gains continued yesterday as expected, falling just short of the 115.67 high but I feel this will break today. We'll still need to be careful around here but I can't see it providing too much resistance at this point. I actually see this extending up through 115.67 and to 116.10-26 minimum... but tend to fancy the 116.59-89 area more. Therefore, as price reaches the 116.10-26 area be aware of the potential for a bearish set up from there up to the upper resistance at 116.89. A deeper correction lower will then be due.
Only an earlier break below the 114.36-43 area would argue for the correction lower to develop more directly. Then look for losses down through 114.03 and to the 113.58 area and probably further towards the 112.82-00 area.
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