$US30 - Watching that 54k level closely

Morning all, just wanted to throw out some thoughts on the $US30 today. I'm really eyeing that 54,000 level as a potential pivot. We've been hovering around it, and the intraday range today from 53807.94 to 54094.65 shows we're still wrestling with it. On the upside, if we can decisively clear and hold above 54,050, especially on higher volume, that would suggest momentum is building to push towards new highs. I'd be looking for a test of that 54,100 area soon after.

Conversely, if we fail to hold above 54,000 and start seeing sustained closes below say, 53,950, that would make me cautious. The risk to any bullish scenario I'm considering is a sharp breakdown below 53,800. If that level gives way, it could open up a move back towards the 53,500 area fairly quickly. Just my two cents, always mindful that the market can do whatever it wants.