This is what I mean when I said a price drop will enter into a lot of support in the highlighted zone. Rejection was off 1253.29 level with the 1250 being the closest round number eq. However there is no doubt that price struggled to close above that resistance so this is a bearish signal.
I am not a good counter trend trader so I would skip this type price action for the short side (sliding into chop) and I would be looking to see if price can breakout of that resistance for a momentum resumption.
