Technically there is very good support at these levels and prices have held, however the levels have been broken. If the price continues strongly downward then a new down trend could start. If prices rise from this level, it could get stuck between these two levels (12.30 to 14.50). I am neutral at this immediate moment as I am waiting for price to determine what will continue to happen, it could go either way. Also if the range sets up then this too adds to the neutral stance which may be opportune for range trades.
There are opportunities to buy now with a stop just below at around 12.00 or 12.10 with the view to targets at 14.50. There is also an opportunity to sell as price could continue the general trend of the last two years. I am leaning more towards the side of Long at this moment as the is very low (though currently ) and may be displaying . To be safe, we wait for confirmation from price action, with a smaller trade by money management for a long trade with space in the stop loss for a fake out.