The definition of a down trend is a pattern of lower highs and lower lows.
Looks to me like we are forming a lower high at the moment.
Negative divergences & low volume indicate increased probability of a lower low ahead.
The RSI (5) has not reached the overbought line yet. Which adds weight to the down trend probability.
Today closed right on the 50ma which may hold.
Next weeks R2 resistance is at .77 so any short term bullishness will likely fade out around there.
Next weeks S2 support is down at .50 - but the lower Bollinger band @ .565 and the recent low would have to fail to provide support first. Short term low if we do break the current support down should still be in the low to mid 50's. IMO
Good Luck all.
TA, page-183
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