At this point it looks as though the previous down wave is complete as the hourly emas have turned and the down trendline has been broken and tested as support. That said, I don't believe the full correction is complete. Confluence of fib retracement levels and previous areas of support/resistance at several levels above where price could stall without a big volume break of 14000. At a minimum, 12200 expected, and 13238 likely, to be reached before the start of the next wave down.
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