Bulls are looking for a daily close above 11500 today which would create a channel break and piercing of several resistances around this level. This could finally take price to the yet untraded Monthly pivot point at 12200. This would also shift the trend from bearish to neutral. The MACD indicator bounced instead of crossed and is right now looking higher again. Ofcourse the resistance is significant around 11000-11500 (50% fib/Yearly pp/Weekly R1/ Upper Channel/Lower Cloud). If breached it may cause a rally to the upper Cloud , especially on the back of a close above the Monthly pp. Overall, price has found support by the 61,8 fib of the large bull wave and is trading between the 61,8 and the 50% fib. A taking out of the Jan 28 high at 11989 will create a higher high with a higher low in place, and this will create a reversal swing and a more bullish outlook going forward.