Longer term, though another rally above the 99.65 is favored, it would be seen as the final upleg in the rally from the Jan low at 87.15 (wave 5), but also the final upleg in the whole correction from the Dec low at 87.15 (wave C of an irregular correction). Note that this type of correction breaks down to a series of 3 waves up (a-b-c from the Dec low), 3 waves down (a-b-c from the Jan 1t high at 94.60), and then a final 5 wave rally (from the Jan low), see numbering on the daily chart below. Also, the market remains within a large bearish for the last 2 years, with a potential test of the ceiling (currently at 103.00/25) before resuming the longer term downtrend (see ideal scenario in red on weekly chart below). So for now for the longer term, would be starting to look for signs of an important top on another upleg above the 99.65 high. Resistance above there is seen at 101.25/75 (38% retracement from the June 2007 high at 124.15, 62% from the Aug 2008 high at 111.65), and the ceiling of the 2 year bearish channel.