you are spot on. the descending triangle can only form when you have lower highs otherwise you cant form a descending trend line.
This is one confirmation that the trend is down.
Support is at the 14/15 mark.
Needs to hold this support line otherwise it MAY fall quickly.
Either support line or descending trend line shall be breached within the next 5 days, direction should then be clearer as to which way this is headed.....
Other indicators are showing weakness, chances are a fall thru the rendline however buying support could arrive at this level and push it above the trend line.
confirmation shall arrive soon enough, so patience with decisions is a virtue.
Cheers
ROB Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
