Weekly and Daily 50 EMA shows just under $1300 as the target for this retrace. Should be a short bounce at minimum, as the price is still high above the EMAs on the weekly, indicating that a lower retrace may be needed. I will be checking this chart in about two weeks because I think it should be here around 5/15 based on the previous cycles, unless something causes the decent to increase its rate.
Comment:
Looks like a rebound. Thanks lads