Timeframe : 2 weeks
Please find the attached supporting's:
1st wave : Started downside from $1,275 (March 10th 2016) and ended at $1,215 (March 23rd 2016).
After this, sideways market is in progress without any highs however constantly lower price level range of $1,275 (Upper limit) and $1,215 (Lower limit).
This sideways market is about to continue at least upto April 22nd 2016. And from later week Market will initiate it's second leg of downtrend which will be equal to its 1st wave i.e. $60 price movement in south direction.
2nd Wave : Its likely to commence from April 25th 2016 starting from price $1,245 to $1,185.
An image of chart depicting both waves has been attached at the bottom of this write-up
Market may alter this timeframe and go early or little late however down move is must.