Bulls may be slightly nervous about price being unable to take out the Jan 28 & Feb 20 highs. Still as long as price holds above the channel the outlook is bullish. Also price hasn't yet retested the Cloud after the breakout on March 1. The bearish divergence seen by the recent top, finally resulted in a move down. If we see support by the Weekly pp and a reversal signal there on this timeframe, chances are very good for a breakout higher towards 12700. Also note the robust bullish projected Cloud that rarely lets a candle through without a fight. Bulls should be OK with some retracement here, to shake off the bearish divergence and preferrably put in a hidden bullish divergence, which is already in play compared to the March 1 low but not yet the Feb 23 low (seen on the Chaiking osc. at the bottom). To clear the Weekly pp is also natural if it is within reach.