A close above $9,000 would confirm an upside break of the falling channel, meaning bearish-to-bullish trend change. It would also add credence to the bullish 5-day MA and 10-day MA crossover and open doors for a move higher to $11,500–$11,800
On the other hand, a close below $7,851 (Nov. 2 low) would signal the corrective rally from Feb. 6 low has ended and would...
The retreat from $9,090 to $8,750 has established the Jan. 17 low of $9,017.41 as strong resistance
A daily close above the trendline would confirm bearish-to-bullish trend change and could yield rally to $11,695 (Jan. 28 high). A violation there would expose resistance at $12,500 (Dec. 30 low)
Bearish scenario: Rejection at trendline followed by a 4-hour close...
