Early selling to just 5 ticks beneath the overnight low signaled day timeframe traders in control early, but steady buying and a late afternoon rally showed signs of strength and possible underlying buyers in the market.

With the medium term trend still down, a point of reference for Tuesday is Monday’s wide point of control at 1922.50. Selling beneath that could have the market retest the recent 1910 breakout area.

On the upside buying above last weeks high at 1932.75 could spark a further rally.