The daily chart above shows price at 1174, at the medium-term uptrendline in white, connecting two significant lows. If that's not convincing enough, here's the hourly:
The entire decline since last week fits neatly into a corrective channel, and price is just reaching the bottom channel. (Note the white trendline there too - perfect fit!)
Of course, nobody knows the future and we can collapse from here. But, based on these two charts, and momentum indicators, i see a possible bounce here. If it happens, watch the upper channel line in particular. A break above it, and we may have a new high.
Move lower will have support in the 1140-1150 area.
All the best!
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