and the fact that price broke 1254 and retested it also adds to the cause.
On the we broke the monthly (1326) to we expect for price to reach the next weekly midrange resistance which turn out to be (1400).
Strong buying momentum push price through daily resistance (1240.700) to our (1400) weekly resistance.
Going down to the H4 timeframe we can take more advantage of the price action by simply placing our Fibonacci too from point A (1341) which is also our daily resistance now to point B (1435).
We have confluence at our 38.2% level with our weekly midrange resistance (1400). Our first target is (1461) with the second one of our monthly resistance (1474) and third at (1494)