Back on May 22nd I gave a couple possible support zones. The first zone (85.25-85.40) held and we have been moving higher since. We had an ascending triangle breakout on June 4th, but the market ran into some fib resistance in the 88.7508-88.8275 area (actual high was 88.80). You have some conflicting signals at these levels:
Bullish: still maintaining two upward trendlines (shown in red); still above all moving averages (10,20,50,100); still making higher highs, higher lows.
Bearish: hit some stiff fib resistance ~ 88.80 (461/361 extensions); RSI price divergence signals warning; MACD showing loss of upside momentum; ran into pivot resistance yesterday (DR1,MR1,WR1).
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