Friday’s surge, powerful as it was, failed by three ticks to reach the 120^17 target shown in the chart. The move was bullishly impulsive nonetheless, suggesting that buyers are capable of pushing the futures toward a test of some key highs near 121 that were recorded earlier this month. If the rally spears both of those highs in an unpaused push, it would likely end October’s correction from near 124 and tilt the intermediate-term bias back to bullish.
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