The price has formed a Triple Top pattern (Marked in Flags) which indicates a Selling Dominance. Also, the recent Candle patterns clearly suggest the presence of Selling
Coming to , it's really a wonderful sight! The last Swing point of every , Neatly connects to the Next - like the is being Transferred from one point to the other.
This indicates a Buying co-ordination from lower levels. In a setup like this, the Average of all the could act as a Support, which comes around 56 level here.
But the Main Support is at 55 Level (Marked in Arrow). We could see that the price took One Whole month to break through this spot! So, when the price comes back down, we could expect a Halt in price drop.
The selling we see here is a good Short term price move, but it's too early to expect this price drop to topple the underlying Up trend.