Steady down move has reached very close to the Major Lower median line of the major pitchfork.Today price opened low and closed higher, close to friday's close.Drawing a downsloping Yellow Median line from recent pivots , todays low has reached a Fib line parallel to the median line.The bounce comes after three days of downmove.The bounce can reach next upto 5565,5610,5656 which are the Fib levels of the current down swing.
50 % R of this swing is at 5610 levels, above which it can go up to 5656.The downtrend holds till it crosses 5801 , pulls back , makes a higher low and then moves higher.
If the price breaks today's low of 5417 , lower level of 5315 is the target.
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