reached the 61.95 new YTD high (August 10, 2015) before consolidating. A potential swing low above the 55.86 area (June 25 12, 2015 range high, near 38.2% of the 27.60/61.95 rise) remains expected ahead of a rebound to test 61.95. Clearance above there would accelerate the 8-month uptrend toward the next target at 69.69 (as shown on the weekly chart). However, if the 55.86 area fails to hold the dips, that would suggest a deeper setback is possible towards the 54.42 level (50% of the 27.60/61.95 rise).
Short term: neutral
Long term: bullish