he market remains well bid for now

Joel - The market remains well bid for now and is in the process of contemplating the establishment above critical medium-term resistance in the form of the November 2010 peak at 1.4280. Daily studies still show room to run and above 1.4280, and there is very little in the way of any meaningful obstacles until the 2010 high at 1.4580. Still, there is the possibility that the market stalls out above 1.4400, but a break back and close below critical 2011 rising trend-line support at 1.4200 will be required at a minimum to relieve current topside pressures.