So I expect the price to respect the lower MLH as it's dancing there now. But as long as the down trend line holds, I find the further decline very likely. There will be those previous lows to the left that may stop it though, but price has arrived here from high above in a strong long-term down trend and this current correction is horizontal and choppy thus also adding to the bearish scenario.
But markets are fickle, so the black down trend line is my 'caveat-line'. :-)