Great question....it very well could but that would be a guess at best. Since we have fallen back in to the range today it is a coin toss. We are favoring the long side but will need to see a close above the pattern before we look for a trigger long. We are very patient and will wait for good confirmation.
The March contract is breaking out...that will most likely drag the continuous contract with it. If we close above the area then it will be time to look for triggers long. If price falls back in the range then it will most likely be a shake and bake fake.