LT bottoming out - soon to brick up

It seems that the price has come down sharp and a lot. I assume that bottom is very close, at around 1270 levels.

It is because:
1. Harmonic for break out (marked in grey arrow)
2. Fibs retracement of 1.618 of A-B move
3. Long-term impulse leg fibs of 61.8

Therefore, 1270-75 is a strong level to buy back this one.
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