1) Weekly Trendline Support Broken.
2) Entered into Stage III - Consolidation/Minor correction.
3) Taking Support at 225.
4) If we apply Dow Theory:
(i) A close below previous swing low (HL/214) may result in change of Trend. Which is Stage IV - Downtrend. OR
(ii) Stage III may continue for a while before it enters next Stage II - Uptrend.
2) Entered into Stage III - Consolidation/Minor correction.
3) Taking Support at 225.
4) If we apply Dow Theory:
(i) A close below previous swing low (HL/214) may result in change of Trend. Which is Stage IV - Downtrend. OR
(ii) Stage III may continue for a while before it enters next Stage II - Uptrend.