The strong rally from June's low has retraced almost all the pullback from the June high at 124.43. While the 124.00 level has contained the June/July rally attempt, the bullish break of the down-channel from February 2018's high suggests a bottom is now in place at 114.43. Clearance of this mark will cause a stronger recovery to further retrace the 2018/2020 decline and target the 126.00 level and 128.70, which are the 50% and 61.8% Fibonacci levels, respectively.
The downside now has support at the 122.00 level and then the 120.00 level after that. There would need to be a break of the latter, as well as 119.31, to weaken sentiment and cause bears to reassert.