The intraday high yesterday fell 11 cents shy of the compelling target at 18.560 shown in the chart. This would have bearish implications only if the current retracement exceeds 16.855 to the downside without the target having been achieved. Alternatively, if buyers take the futures higher today, exceeding 18.560 intraday — or better yet, closing above it — that would be quite bullish for the near term.
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