Yesterday price shot up and took out the important top at 16480, which created a reversal
swing on the Daily timeframe, with a highler low and a high high in place, though the
new high might not be carved out fully as of yet. Price advanced above the defined
channel, and has since pulled back for a retest of the breakout level.
The daily pivot point has been tested and gave initial support. Either this is the start
of another two day consolidation or we will see a quick advance to the 18000 level,
that is the target of the Cypher pattern that was triggered before new year. Today this
is also approximately the Daily R1. A sharp sell off today should be supported by the
previous top and former resistance at 15400 which is also the Daily S1.
