We are seeing a lot of confusion in the market with the inability of the market to make a clear direction. However, on the short-term cycles, I believe we have a bullish opportunity that will take the price back up to $1800. Based on the cycle length, this trade could take about 7-12days to complete. For the day traders, bullish scalping trades are advisable. During this downturn, a lot of energy showed up and if the reversal is successful today, which I believe it will be, the price very well could reach $1800. You can have a very tight SL at this price zone that can easily yield a 1:10 risk:reward ratio.
The market moves in waves, and energy at the wave turning point tells us how far the price could be pushed. Best of luck.