look at the 4h chart ,the important support level
was brokenout by strongly power ,i think the drop down space is opening .now, a AB=CD
pattern completed at 1290.00 and the RSI
is over sold here , so i suggest the short position should take some profits here .if you didn't do a short trade,i think there is an idea to plan a long trade at 1289.00 area (of course ,must light position ) ,i don't want to trade this short-term long trade ,because it's not my trade style .what i will do is waiting the price pullback and retest the neckline (at 1300.00 area ) ,then i will get ready to short .
good luck guy.