1) that the movement to 1200 is over because we have achieved 200% extension from A wave and at the same time hit a nice round support value. Given the market hesitant behavior it will be quite hard to make wave C even longer.
2) the we've just obtained is likely to become part of a larger correction pattern. We therefore are going to observe the formation of wave B going upwards. In the case the market is trying to draw another we are likely to obtain a correction to 1250, and then going down to 1150.