Testing the Top

Sellers weren't able to gain traction from yesterday's sharp selloff, which means the rally lives on.  Overnight action has price testing recent highs, but new highs are likely.  Limit orders pending at 1338.25 and 1339.25.
Note the shape of price action over the last couple of weeks as we test resistance levels established in February.  Long term tops often appear rounded as the battle between buyers and sellers causes an increase in activity but with little directional movement.
For now, price remains above the key 1320 level...but once it has tested slightly higher I suspect we'll soon be looking at 1305 again...