However, if it breaks lower, we can pinpoint a few areas (I plotted six) where important levels line up with multiple levels. The most prominent ones are:
17100 - important area + 0.236 and 0.382 Fibonacci levels.
16500 - important area + from the ATH towards the latest major low at 12700.
15600 - a confluence of measured from 12700 and 0.382 from 8900 + old .
14300 - a confluence of three Fibonacci retracements, including 0.382 from the low of 5400 back in mid-November.
12900 - old support + measured from 8900.
11000 - old highs + two Fibonacci levels, including 0.618 from the low of 5400 back in mid-November.
Whichever way it goes, it's good to be prepared! Happy trading!