As you will see in the weekly chart, it is well within it’s down trend.
In the hourly chart in a close look, it is trying to reach the of $547.19. It should be able to reach its target in a day or two.
Personally I initiated my trade at $548 and closed it at $528.00. Will initiate another trade, once it hit my target and if the momentum and candle stick pattern supports my argument.