After finding a support point, I was waiting to see if it'd start down today and apparently today has been a strong rally day. Depending on how it closes, I think it's safe to buy today and hold until 155. However, my analysis shows that 150.35 is a likely point of supply, so I wouldn't be surprised it has trouble getting through that area.
Looks like the bulls took out that point of supply with no problem. Let's see if it closes near the high. Gotta be careful though because if the volume gets too high and the prices rise too much, it may be signaling a climax.
Anything in the area of 152-155 for Oct.....if it stopped there, that would paint a nice head and shoulders top. Definitely stop loss on shorts at 160.
It looks as if buying pressure is rdrying out in this market. I was in during the early session of today (although I planned to hold for several days but it hit my profit target in the first hour of trading), got out at 153.8 and am now waiting for the downswing on the daily charts.
At the moment, nearly all of today's gains have been erased. This is interesting because it happened after price touched a reverse trend line that I'd drawn.