Dueling impulse legs characterize the daily chart at the moment, albeit with a slightly bearish bias. The clear implication is that the down-leg begun on Friday from 82.99 is likely to reach a minimum 81.53 before reversing. A tradable bounce seems very likely from that price because the pattern is so clear, and so Ive recommended bottom-fishing with as tight a stop-loss as youd care to apply. Please note that if the support should be breached more than slightly i.e., by 0.06 points or more it would suggest that a larger downtrend with potential to 81.32, or even 79.08, is in play.
