Holding last weeks low so far on Sunday night. This was my first level of support from my previous chart. There are two harmonics in play on the 4H. I drew the deeper one that takes us down to 12500, which I feel may be a magnet for price. The other harmonic has already completed in the 12750 zone where price bounced from. The general feeling I'm getting from most traders is that they are expecting a deeper correction so it will be interesting to see whether or not this dip gets bought up as aggressively as the others. My plan is to stay patient. The market has had a significant sell off and market participants are still digesting the events of last week so no need to be aggressive early this week.
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Buyers coming in quickly here. Keep in mind still in the neutral zone. A roll over is still possible coming into 13277. If price builds above 13277 I will feel more confident.
