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The previous resistance level seems to be the new support level at this time. It is testing this support level for the third time. If the support gives way look for price to head down towards 1255.00, possibly to go through and test the support at 1252.25. If the test of the support level proves to be correct and moves up to pass 1258.50 expect the price to test the top of the channel. The next show of resistance would be 1263.75. If buyers take over price could head up to 1272.25 possibly hitting resistance and continue to head up to test 1277.00 . As Joel says, trade what you see.
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