We are currently trading within a broader range. However, now we are approaching the important MA which is also the 50% retracement of the decline since August. As the window which had been opened on Monday has been closed now as well I can assume that the test of the high built on September 15th will fail. As this high was the 3rd lower high in a row since end of July this will confirm the downtrend prevailing since.
Trade closed: target reached