1. Monday closing low at 1407 has been proven to be the bottom of current pullback;
2. Breaking 10 day MA at 1445 caused massive short covering rally today, reached 200 day MA at 1472;
3. Standing above 200 day MA at 1473 should cause further short covering plus new buying interest into the market;
4. Short-term resistance at 1483 may cause a short-term pullback to 1445; retesting 1407 is also possible but is unlikely for now;
5. Second long green bar should appear on 12/11 and break 1510;
6. New high at year end.
2. Breaking 10 day MA at 1445 caused massive short covering rally today, reached 200 day MA at 1472;
3. Standing above 200 day MA at 1473 should cause further short covering plus new buying interest into the market;
4. Short-term resistance at 1483 may cause a short-term pullback to 1445; retesting 1407 is also possible but is unlikely for now;
5. Second long green bar should appear on 12/11 and break 1510;
6. New high at year end.
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