After price found resistance @1263 a 50% retracement level of the former downmove price also found support @1207 the 50% retracement level of the actual upmove its a tug of war between the bulls and bears,
any breakout of that rangebound level will give us hints to the further direction
signs of strenght: broken supplyline price found support @ 50%
signs of weakness: rejection of MP price found resistance @ 50%