Do you want to know why we bounced at $340 on Apr 13, why we bounced at $420 on May 5, and thus why this 'trendline' has held thus far? Both bounce events occured immediately when either China or the Chinese exchanges released some counter-FUD article leading us to believe some major change had occured in China and everything was going to be ok there.
I've been told countless of times that news are secondary to the market movements, or does it only apply to the dumps?