As I said last week, we have had a 100/200 bullish crossover which is a macro buy signal. We have a bullish trend line of best fit with 5 touches and this line is currently coinciding with a 50% retracement level at 131.80. I will look to initiate a long position on dips towards this level and hopefully build if the level proves itself. My initial stop on the small entry position will be below a daily low at 129.70. My overall target for this bullish phase is still 149.
