It is probably the 4th wave of an impulse. There is an Important past supports and resistances level and it is also placed at the 38.2% Fib retracement and the 4th wave of lower degree. possibility for the price to reach to this level is high. after that price will rise to complete the impulse by making the 5th wave.
Trade closed: target reached:
Price reach to the support line as we expected. now there is a good chance for price to move upward.
Trade closed: target reached:
Now Price reached to the 1257.548 level on the way up as we expected.