that line was as good as any. In this case however, i differed to a simple old trendline at 30.00, and the fact futures bids were massive at 33.05. I didn't get filled.
The 7 day trend is still bullish. 24 hr trend has bears and bulls at a stalemate, needing a catalyst to restart a move in either favor. What's funny is bulls had taken control last night, then got slapped back by the dollar rally.
I am holding fire right now, hoping it will make another run. If it goes above 31.1 and can't get past 31.5, then I'll go short as that seems like a safer play. Of course I very well may not get that chance.