I think we recently assisted to the selling climax followed by the best rally since the beginning of the down trend (Automatic Rally). If so, the 2 parallel lines on the chart should be our trading range for the next little while.
It’s too soon for me to tell if it will be a redistribution or accumulation. Time will tell. Until then, there might be good long and short trades near the edges of this trading range.
A secondary test of the selling climax low would be a good confirmation of the trading range.