Currently the Horizontal support has held around 16,500. This has been tested as both resistance (on the way up) and support recently. If this level holds we can carry on moving up. Also keeping an eye on the 20ma on the daily TF, as long as we dont close below this, my bias is further upwards movement. If these support levels are broken or we close below the 20ma, we can see some downside. This recent dip and now consolidation around this level was very much needed as was very overbought and bearish divergence could be observed.