is moving in a corrective structure into a channel which most likely it represents a B wave after a small rally (A wave). The safest scenario is to wait for a breakout above this channel something that will signal the end of B wave. We should then wait for a buy setup and go long. A more risky but with great risk: reward would be to have a five waves move into the channel and watch for a buy setup at the end of the fifth wave.
I either case i will update if anthing forms.