The longer perspective shows that prices formed a double top in 2008 but dropped like a stone from those levels. Prices then formed an upward sloping pattern (A) but have broken through the trend line (B).
(A) shows that prices are in a clear downtrend, which is confirmed by the extremely bearish EMA picture: all the EMAs are moving lower, prices are below all the EMAs and the shorter EMAs are below the longer EMAs.
Prices were in an uptrend (A) which they broke on Friday morning (B). Prices dropped hard (C) and (D) on several succeeding occasions. They attempted a rally (E) but couldn't maintain upward momentum and have since been moving lower, finding resistance at the EMAs (F).
