The short-term accelerated upmove is likely to meet with resistance as it approaches $1.39 to $1.395, an old resistance level established in 2012. Prices have been higher, above $2 during the commodity boom.

Now, though, short- and medium-term indicators are approaching extreme overextended levels. Five-day stochastics is at the top end of its range and poised for a downturn. Twenty-one-day RSI is at 80, its highest level in more than two years. ADX is also at its highest level in more than two years. A pause in the price surge would turn these indicators down. Support is at $1.20, and a break below this level would result in a sharp fall.