$WETH: Watching 1.27 Resistance After Strong Bounce

Saw a nice bounce on $WETH today from that 1.14 area. It's now bumping up against 1.27. This level was prior support on a few occasions before it broke down. If it can get a solid close above 1.27, that would shift my view towards a potential move to 1.35-1.40. Until then, I'm watching for signs of exhaustion around current levels. The risk for this scenario would be a clear rejection at 1.27, especially if we see follow-through selling back below 1.20.