Round-number resistance near 1600 is likely to prove challenging, since it roughly coincides with a compelling Hidden Pivot resistance at 1597.80 that is shown in the chart. If bulls overcome this double stopping-power within a couple of hours of a first encounter, it would likely put bears on the run into next week, at least. Most bullish of all would be a close on Friday above 1600. That would put a 1652.00 target that comes from the daily chart (A=1389.80 on March 17) well in play.
