Price has dropped down as predicted, and now we are at a possible resitance point to the downside. Look to see if price will break down from here. We could see a possible ABCD correction to the downside here with an eventual target near 2425. Look to see what develops in the next few days.
Price had formed an action reaction set to the downside as marked, and now we are following the pitchfork to the upside. If price breaks out of this fork to the downside, look for continued downside pressure afterwards.
Because of the quick move between A-B, I have created the modified schiff fork to the downside, which is showing good frequency as marked with the arrows to the downside. This could very well be the controlling fork to the downside.
Price has dropped as predicted after hitting the median line. We have bounced off support at 2542 that was marked as a possible support area before. Look for price to hit resistance again shortly at the upper yellow line action reaction going to the downside.