Regardless of the $14 rally, market is still in balance, as previously noted.
Nothing has changed drastically, aside from some new long inventories which have supported the overnight rally.
I would like to see some rejection here by sellers regaining control near $1586 to maintain the downside scenario.
Alternatively, provided buyers keep the pressure during the next session, I will be looking at $1586 to be challenged, followed by $1592 and $1596.
As noted yesterday, the line in the sand for recovering upward momentum continues to be at $1600-$1598, followed by $1620-$1615.