Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.
The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.
No; 755 is rather an estimated turning point at the trend-reversal-curve; if price closes above, then an uptrend.
It'd also serve as a grope stop loss, for someone who sold it at the top. :)