Weekly Highs from 2012 profit taking or a deeper correction ?

If 79 holds I remain bearish any move down from here will confirm that bears stepped in and it was more then just profit-taking ahead of the 90 -96 weekly highs from 2012, if the bears can break 65 a leg lower to 51 is given from there a retest is in the cards but 65 may hold so that's my thoughts 79 and 65 are crucial for the bears. time will tell...

Comment:

if we make new highs from here this idea becomes obviously invalid