WEEKLY CONTINUATION CHART: The 38.2% recovery level has remained first key resistance here, prompting a setback earlier this year which we presume to be temporary.

The 12.25/15 area provides the current floor, which bulls need to hold now.

DAILY CHART - DEC-10:

With a typical 3-wave corrective structure now seen, and following earlier erosion of a falling resistance/return line, clear support has emerged from the 76.4% pullback.

First resistance now comes from the 14.65 level, but for a more convincing recovery a further push is required through the bear channel top projection, 15.25 just now. Then, subsequent weakness is more likely to be short-lived

The 12.25 Jan low should be safe from attack for the foreseeable future.