The correction of the range this week (and move from the low 77.97) held the 38.2% at the 79.01 level. Nice hold. I like it like that
The move higher is finding some resistance at the 79.42 level which is the 50% of the days range. The price has inched above this level on 2 separate occassions, only to fail. The third time should be the charm. Look for a break to find momentum. A failure and a rotation below the upward sloping trendline (see chart below at 79.35) would look toward the now upward sloping 100 bar MA (blue line) at 79.29 currently). Another key decision will need to be made there.
