In the latest structure it can be seen that there is a compression in the price range. The breakout in either direction may lead to a significant move. But the trading range between 70 and 72 may act as a support on the downside.
Commento:
Breakout on the upside but has to sustain above 74.65
Commento:
If 74.65 doesn't hold, price may test the support of 73.8
Commento:
If 73.8 holds on a closing basis, price may stay about it else could test the crucial 72.18 which would act as a support.