In order for this so-far phony little short-squeeze to mutate into a real rally, we’d need to see a pop above 116^26.5.  Technically, a move merely exceeding 116^12 (aka point ‘C”) would invalidate the downside target at 114^06 as well as the downtrend itself, but we’re setting the bar just a tad higher so that the impressively vicious price action in this vehicle does not give us a false bullish signal.