US100 pulled back as expected after hitting the Yearly R3 pivot and quickly took the elevator down to the Monthly Pivot @ 11700. This is a strong level of support and a retrace to the Weekly Pivot @ 11940 is likely. Depending whether we break through or reject at this level will pave the way to either 12300 or back down to diagonal support (coinciding with the 4H 100SMA). Any close below the Monthly pivot could take price lower towards the Monthly S1 Pivot @ around 11250 (coinciding with the 4H 200SMA)