Watching $USLV and the 12.78 support

Been keeping an eye on $USLV today, especially with that drop. It hit 12.78 earlier, which looks like a pretty significant level of support on my charts. If it manages to hold above that going into the close, and maybe consolidate a bit around these levels tomorrow, I'd consider that a relatively bullish sign for a potential bounce. However, if we see a sustained break below 12.78, especially on increased volume, then that whole idea is pretty much invalidated for me and I'd be looking for lower prices. Just my two cents on the current action.