DislikedAbsolutely no surprise we bounced at major resistance under 142. We've not been above here for a while and already 'tested' it more than once. If this plays out without any shenannigans, we will move up and 142 will become support.
I'll put my neck on the block here and say we've seen the low for this cycle. Danglers from 119 are unlikely to come into profit anytime soon.Ignored
We should be wary of getting obsessed with volumes on this upmove. Yes, they may be reasonably low, but that's not necessarily a sign of weakness. If the institutional bears have stepped out completely, then the retail herd could move this as high as is needed.
Trade the charts, not your beliefs.