We hit a downward trendline after bouncing up from the 0.5 Fib of the last leg up. The 50/200EMA however has crossed up. We'll have to look at the test of this cross. A clean break will invalidate it and continue the downtrend. A bounce from the test may indicate a further test of resistance of the trendline and a possible break up. I'm more inclined of a continuation of the downtrend but we'll have to see how this one pans out.