The correction off the test of the 38.2% correction held the broken trendline at the 82.16 level (low reached 82.198 – see prior post by CLICKING HERE). The subsequent price rally has seen the price push to new highs for the day. The next target comes in at the 82.60 level and then the 100 hour MA at the 82.66 level. I would expect profit taking sellers against this resistance area. However, I do not expect a material move the other way.
