Price was making higher highs and higher lows (in purple)
until price formed a pattern (in orange) around 1550 level which acts as a strong resistance and round number
price then broke the neckline downward breaking the last low as well giving us an early alert that the uptrend may have come to an end.
now price formed a around our lower long-term green .
Technically, descending triangles are trend-following patterns. However, it can break either side.
here are the two possible scenarios:
1- price rejects the long-term green and breaks the upward (above 1510.0) to test the upper green .
2- price breaks the long-term green downward by breaking the from the downside (below 1480.0) to confirm the start of a long-term downtrend
Let's wait for a break either side and act accordingly. Good Luck!