One thing that makes me chuckle is how some commentators say things like "if it breaks 1350 its going down". Well duh 1350 is below us!
In that great spirit I'm going to say much the same
that 50-60 area provided a minor obstacle on the way up about 10 days back and will need to be broken to go down (well duuuh). To confirm the downtrend is still intact we need to take out the January low. That little prod mid march I would call a double bottom even though it exceeded Jan's low by a point or two.
Will be interesting to see if it breaks today. Note to self when a strong break shows up intraday jump on and hold tight.