This rally is just getting underway. Look at and . The next resistance ceiling is $400. I expect some turbulence between here and $400. We need to see a new support layer form at $275. My guess is that there will be some large oscillations in what I'm going to call the launch zone, $275 to $400. Look for some tests of the $275 support in the next couple of months and perhaps an initial breakout attempt from the "Launch Zone".
My oscillators on the weekly have turned to a buy state. I think we are looking at 3 months of time bouncing around in the "Launch Zone". About 1/2 as long as we have stayed in the Panic Zone.
Like I said, I'm above $275.
If you are looking to play the bounces, take a look at the 6 hour chart.