Price is at an important juncture at the moment with the odds favouring of a bullish move to the upside above major down-trend resistance. Up-trend support near 1310 and 1280 needs to be held for a continuation of the bullish trend. Any breach below this would need to be recovered quickly to support the bullish case.
IMO this is a very bullish chart with momentum firmly pointing upwards. Key would be a BO above down-trend resistance over the next few weeks followed by a BO above horizontal resistance at the recent 2016 high of 1377 by Q3 end. There is strong resistance up to about 1390 with psychological resistance near 1400. My year-end target high remains a reachable 1500.
