The market is still in a rally mode as the local high was established at the level of $8,442. Since then a small corrective cycle was developed with a local low at the level of $8,006 which is just below the weekly pivot resistance at $8,164. The momentum remains strong and the target for bulls is still seen at the level of $8,555. The next immediate support is seen at the levels of $7,890 and $7,750.
