it just negated a bearish trend by avoiding closing below 85.5....

it just negated a bearish trend by avoiding closing below 85.5. a close above 93.5 would be even better (a close above 30 week MA). no; I don't think this is a bounce into a new ATH. the cycle since end of March has been weak, but hasn't failed (hasn't closed below 85.5). the inclining trendline is very weak (not steep at all), meaning it's vulnerable to breaking 85.5c to the downside within the next cycle or two. in the meantime, it will try to breach to the upside the declining trendline from 19 April to confirm 13 of May as the cycle low (price level to breach declining trendline is around $1. so I'd expect as a minimum a weak challenge of $1-1.07 area. I'm remaining agile and cautious.