Here is a split window of the monthly (left) and weekly (right) price action.
Things of note;
2c set up on the monthly - which is really just a reverse divergence. When looking to trade a "2c" setup I look for a few things on the faster time frame which include a "3d" setup, 3-pushes to a low, and/or an inverse Head & Shoulders or strong seed wave, which is exactly what we see on the weekly chart (trigger to enter was 5-weeks ago on 12/16).
The only concern I would have with the above setup is the bearish tone to the trend on the monthly chart (50-period MA trending down while the 20-MA corrects into it) which can turn into a Head & Shoulders pattern (2b setup) or a climactic top (say at 1400). Essentially price is going to have to break out of this 1300 overhead resistance with some serious momentum (say greater or equal to the previous 10-month long upward momentum) which in turn could start a new cycle of higher highs. If momentum fizzles price can still go higher but price would give clues to signs of weakness.