Last update previous analysis:
At the now, so chances increase now for a correction down again, like the blue line. Unless we see a squeeze straight through it. Moments like these, one could do a stop for maybe half or more at a break of that on the left or that green support
Assuming the red zone won't break, i might adjust my view on the mid-term. First i thought we would see something like the blue line, so making a higher low if we see rejection from this at 1310/15. But now i am thinking, there is even a good chance to see a lower low form, around 1270 even. If we drop from here and the 1290ish breaks, the 1270 would be a very realistic target and probably an even more ideal spot to get in again for the long term. My main reason for this though, since move like this would take more time than only a test of 1290, a bigger correction in time would fit the bigger picture much better.
These are just assumptions, but it's good to be prepared up front. On the left, we can see a possible forming now, which could signal the start of that correction towards 1290ish. But if the neckline breaks, it can not get above it again.