Chart, page-558

Two accumulation pressure orders at:
Sell: 6.50 - 600,000 and 7.50 - 283,000

They may test for supply from sellers and accumulate sideways until the main downtrend breakout as you suggested or maybe have another crack at raking it down even harder to accumulate more.

For balance, a bearish scenario would be a continuation of the major downtrend although fundamentals, the weekly and daily indicators seem to suggest that it would be less likely.