Stochastics and the RSI are diverging but are neutral signaling that sideways trading is possible near-term. If June extends the decline off February's high, the 62% retracement level of the November-February rally crossing at 127.37 is the next downside target. Closes above the reaction high crossing at 131.43 are needed to confirm that a low has been posted.
First resistance is the 20-day moving average crossing at 130.22.
Second resistance is the reaction high crossing at 131.43.
First support is Tuesday's low crossing at 128.52.
Second support is the 62% retracement level of the November-February rally crossing at 127.37.
