Price is oscillating around .382 level forming an Elliot ABC flat correction. Unless the price is able to break through previous support around 6500 the downtrend should continue. The next support is around trend line + .618 level around 4800-5000.
There is a chance that the correction transforms into a WXY if the price retraces from 5600. The result remains the same though.
There is a chance that the correction transforms into a WXY if the price retraces from 5600. The result remains the same though.