You might remember a little while ago, I put up a chart which highlighted what I thought would be an extremely bullish sign/pattern. It looks like it might be in play now, and it’s going to get the bears excited. I think my original target in the $1240 area is still on. As time has gone by, the support has increased closer to $1250. My chart below shows the rounded base giving support around $1250 and that black resistance line forming. A wedge causing price to coil below such a hugely important area of overhead resistance is very, very bullish BUT that support has to hold. Two lines in the sand – $1250 and $1365 (although I won’t breathe easy until we break the psychologically important $1400 barrier)., That’s it. That’s all that matters now.