The next crucial test for buyers lies at 82.99, a peak made on the way down in September. Its breach to the upside will be necessary to refresh the bullish impulsiveness of the daily chart. Success seems likely, given that there are so many uptrending ABC patterns acting simultaneously on this vehicle. However, a quick drop to 79.51 would be reason to rethink the bullish scenario, since that would generate the first bearish leg we’ve seen on the daily chart since mid-October.
