The price can drop from the current high area to the center of the new uptrend, which for most will be the 200 day moving average (which is currently at 1538 CNY
and should go up to 1600 CNY
next weeks). This might take time until late August, early September 2015. Until then I am bearish
and expect falling prices.
As of publishing the chart the price is still above 1800 CNY