Prices are mounting a corrective recovery after turning downward as expected.
A break above the 23.6% Fibonacci retracement at 1320.34 on a daily closing basis initially exposes the 14.6% level at 1329.78. Alternatively, a move below the 38.2% level at 1305.3 opens the door for a test of the 50% Fib at 1292.66.
