Probably a few sensible stops at the 236% retrace area for the failure around 1320/30
We are also at a bigger 236% retrace area at 1327 from recent lows. The targets 1087 which is 50% fib of the previous move.
200dma is sloping down so bias should still be but in the previous move up we didnt touch the 200dma until we neared the correction point with a year of range play.
we have resistance from two previous peaks, which is weak.
Pitch is being flirted with.
Bears are targeting 1087
Bulls want a longer term move to 1550
A test of longer term 236% area at 1530 & failure to break above would look for a strong move to 890 area.
With this in mind and indices showing strong strength, or euphoria phase, all while bigger players slowly move their money out of indices and quietly into other area's, possibly gold .
We could see gold bears letting the bulls run into a trap at 1550 area and a pull back correction indices that is more than overdue.
A move from 1560 to 890 could be an extended pattern and play its part in again creating an pattern which would target 2550. This is purely speculation.