WEEKLY CONTINUATION CHART: On this chart the 16.32 38.2% recovery level is the start of key resistance, which also includes the 16.73 May-10 high.

A break through these would open the way to the 18.87 50% level next.

DAILY CHART DEC-11:

The structure of the current bull leg, inspired by the earlier breach of a s/term bear channel, does not yet imply fatigue, and is now closing in on the 76.4% recovery level, which previously provided resistance in Sep last year. This lies close to the long term 38.2% retracement.

Also note a channel top projection around 16.60 where s/term resistance would not be a surprise. The final hurdle on the Dec-11 chart is the 17.05 May-10 high.

First support comes from the 15.14 03-Feb high now and buyers on dips will likely position ahead of this.