8.01.11 _Weekly chart

• Weekly bearish engulfing Bar.
• Close below 5 WEMA.

Price has crossed the LML of the orange Pitchfork.Drawing a new downsloping red pitchfork, the down target for the swing down is 5570 levels.This corresponds to the 50 % R of the upswing from 4787 to 6336.

A retest of the junction of orange LML and red UML at around 6035 - 6070 levels will give a good opportunity to sell again.Price action of bars at these levels will give the confirmation of the downmove.

Above 6200 the downmove probability is reduced.