As shown on the , the oscillator has been convincingly converging these price slumps at oversold zones.
Subsequently, %D crossover even below 20's intensifies bears interests in the market, as a result we've seen bears could not resist today's highs of 76.912 and pushing vigorously to the current levels at 74.541. This would mean that selling pressures are piling up.
More importantly, the formation of patterns like and candles at 81.462 and 82.031 levels respectively evidenced weakness already in previous rallies, looks like bulls have completely exhausted and given up.
With current price slipping below 10DMA which is again one more indication. However, today's closing basis should be closely monitored for next trade direction.
Hence, if current price does not manage to hold onto this level we could certainly see more slumps, keeping that point in mind it is advisable to short rallies for targets at 72.573. Even if it shows any abrupt upswings no need to panic, instead use them better entry points for fresh short build ups but medium term it has to drop back.