Still in a downtrend. In the short term looks like we will see come more consolidation towards the current trendline
. (Red Dashed) Looks like we are going to see a 50% retracement
of the down move. Coincides with the falling trendline
, the C in the ABC
sequence, as well as the D in the ABCDE sequence. As shown on the chart this should come to fruition around June so pay attention and watch out for this one!