1312.50 is a Key Area to watch

I have been mentioning now for close to a week how critical the 1312.50 level is. Its important because if we get a close below I believe the objective will be 1292-1290 level, for the bulls to buym' up. As we are testing this area it has several key characteristics, look at yesterdays tail and the bulls defended that level and closed it above 1312.50, and the days prior were defended nicely as well. as of right now, were in a balance period to were I'm going to be looking for responsive sellers to be active at the extremes of the range in hope of an initiative breakout to the downside, that will push us to the big level of 1292-1290. note: with the tight range were having and these inside days /(fakey's) i like to call them, our target could be reached quickly. Good trading KraTrader.