staged a strong rebound off the 232.74 low (August 12, 2015) to test a 4-week falling channel
resistance (as shown on the daily chart
). A clean break through the 259.99/260.00 area would confirm a bullish channel
breakout and extend strength towards 271.00 then 286.65. However, if the 259.99/260.00 area manages to cap the upleg, that would prolong the consolidation towards 232.74.
Short term: neutral
Long term: bullish