The rally from the first target area of 1850.00 to 1836.00 failed to get up to 38.2% of the break from the all-time high (1940.00). Like Crude Oil, the two key areas of 1950.00 to 1940.00 could be the trading range for the next few weeks or even months.

This part is still the same,

Failing to get above 1942.00 after hitting such a key area below would be a very negative sign and they should go back to test the recent lows. With a couple close's below the 1836.00 major Gann square you should look for the long term swing point at 1691.00, this is 38.2% back to the 2015 low.

GCZ20