Sure enough we are currently seeing a successful retest of the 1200.00 level as resistance on the daily.
A large high test of the the level also coincided with a failure to breakthrough 0.382 Fib Retracement level and an apparent bounce of the 50ema. All of this is playing on the Dollars current strength and after a couple of weeks consolidation in the markets it seems like trend continuations are now likely.
All this gives us 5 Factors of confluence -
1. High test
2. 1200 Resistance
3. 0.382 Fibonacci Rejection
4. 50ema Bounce
5. Following the trend
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