In afternoon trading buyers took over and shot the price up to pierce and go through the 200SMA to 1120. A retraction to test present support level at 1108 and then to consolidate at levels between support at 1108 and a slightly downtrending resistance line with the 200SMA. If there is a significant move past the resistance the next target is 1119 and on towards the upper resistance level of the long term trendline . If going down and testing support levels the first target is 1108, 2nd target 1094. If that support breaks sellers could move price to 1085 and further down to lower target at 1068. Bears could go on to testing support at the lower longterm trendline.

Trade What You See