Retest!

meta name="Generator" content="Microsoft Word 10">

The move up from Monday’s PRP low continued yesterday and the “retest” of the 832.98 high is underway. Wednesday’s price action confirms Monday’s low as a price fractal and filled the gap on the chart from 809-813. We will know whether the bearish stance is correct or not very soon.

The market closed at resistance yesterday. Further overhead resistance (see today’s chart) lies from 820-822 and then 827-828 (final area before the previous high).

The futures are up strong as I pen this (+14.5!). Let’s see if the bears get gored today.