Looking at the hourly chart, the fall today has taken the price closer to its rising 100 hour moving average currently at $52.21. A move below that MA would tilt the technical bias more to the downside. Stay above keeps the buyers more in control.
The price moved above the 100 hour MA on January 5th last at $48.23. From the low for the year on January 4th, the index is up around 12.18%.
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