As you can see we are in a downtrend but also part of a channel, we can see key areas where price has respected this channel and either gone short or long.
As you can see at the moment we are at the support area on the channel and i expect to see this go long to the marked out area.
The fib channels also show certain levels in the channel where I wang price to hit especially the 0.286 and 0.382 levels.
I also have ichimoku confirmation on the daily with chickou span showing upside