After a while consolidating within 41k - 29k range it found resistance which is the upper descending trendline -- and is set to make a sharp drop into 20k zone. A corrective continuation beyond the upper descending trendline would then accelerate the impulse to the downside. Plus a bearish daily chart pattern is forming, if today's candle close intrudes well into...
1. The bulls were not bullish enough to maintain
the high above the inflection point set in 9/1/2011
2. Exactly 50pct. Retracement
3. Resisted by upper descending trendline
4. Price moves correctively
5. Bearish daily candle close
