Price is at highs again. Premise for today is watch for potential inside support at 1157.50. If this holds, bias with be for congestive sideways action 1157.50 - 1165.50 with an upward bias. Watch for midrange contractions. Look for extension attempt of 1165.50 in this scenario. If 1157.50 does not hold, look for test of 1147.75. Oveall range is 1165.50 - 1147.75. I will look to initiate line in the sand trades off the 1157.50 area. Longs if it washes out and holds and breakout shorts with confirmation.
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