One the areas technical analysis
traders were watching is the .500 Fibonacci retracement
level from the February highs to the swift sell off lows in the middle of March. Today's rally did come close to this .500 level and was met with quite a bit of selling. Today's price action coupled with a shooting star candlestick
formation created a bearish
signal. We will have to look for confirmation tomorrow and the coming days to see if this is a reversal of the recovery and attempt to retest the March lows.