Looking to the left we can see, that the price has made a significant bullish move lately, and has bounced from a rather strong support line, that is indicated on the chart. Now the price is correcting the motive wave with a bearish wave. Inside this bearish wave, another correction is being formed in the bullish direction, creating a support line from which it creates higher highs and higher lows. We are waiting for the price to make a break out from this line in the bearish direction, and then a bearish move to the indicated support line.