The market remains in a downtrend, though wave analysis indicates a potential end to the current trend.
The wave structure of the higher time interval indicates the formation of a corrective movement in the form of an ABC zigzag. Now there is a final wave [c].
On the lower time interval, a downward impulse develops. Now the market is moving within the final wave (v). This indicates a possible completion of the current downtrend either now or in the near term.
As a result, the formation of a downward movement continues on the chart. However, a wave structure is almost formed and the price may change the direction of movement.
In this situation, it should be emphasized that short positions remain preferable.