and if we go through 1020, then next closest resistance is 1045 which is almost near 1070. If we donot pull back from current resistance 987 to 991, then a test of fib 50% will be in days after break through 1045. that will mean a counter trend rally is over in just 2 or 3 weeks. It is highly unlikely. More likely, a pull back down to somewhere to 900 to establish a higher low (as you said before and i agree on that). Besides, it is also possible pull back to 850 to 870 which will expend current coil. if that's the case, a side way action will last at least another month. a delta neutral strategy will apply again for higher premium now.