@bcr,There was some news flow from what I see at the beginning...

@bcr,
There was some news flow from what I see at the beginning of the month and that seems to have sparked
the interest. Why it went up to the target (which is also a pretty major resistance zone) is quite natural to the
way markets behave in general. Whether it was "market makers" helping the push with an intention to re-distribute
at that level, I do not know, though it is entirely possible. These types of levels have significance for a number
of possible reasons. As a Technical Analyst, my primary concern is not the "why" but rather the "what" so to speak.
The fathers of TA addressed this issue in their works but emphasized many times its overall irrelevance to the trader.

Here is a quote from what is, IMHO, the best book ever written on TA - Technical Analysis and Stock Market Profits,
(AKA The Bible of Technical Analysis) by R.W Schabacker, first printed in 1932!:

"Some of these pictures can be explained quite logically, Others must be laid to the habits of those interested in certain stocks who always use the same campaign tactics. Other patterns can hardly be explained at all, except by the use of some rather vague and involved theories. But if we find such patterns valuable in forecasting the future price movement of a stock we need not worry too much about what causes the patterns or their subsequent habitual movement. It is enough, for our practical trading purposes, to recognize the pattern and know its probable future significance."

All the best