Could also see price falling briefly below 1200 this week and then buying strength gonna show up after that. Likely to see a strong push to $1300 and then to $1350 when 1200 level is broken.
UPDATE: Price failed to break above 1220 and took the alternate path - to the downside as also projected. Thus we now have a better entry at 1198. It is imperative that we see 2 consecutive bull candles closing above 1198 for entry. Same exit target.
UPDATE2: Still no buyers coming in but the chart created another important level for potential long entry :- at above $1190 (revised down from $1198 prev.). By following patiently over a time period we can get the right entry and not catching the bottom of the trend and get stopped out several times.
No buy entry since. Will have to see 1190 break until then we are not going to see buys.