The price has failed to move above the previous high and has now moved back down, the price has managed to just about break the channel and move below the support level. A morning star has appeared just outside the channel, this may be a signal that the price is going to move back into the channel and this breakout will fade, if the price bounces at this point there is a chance that we may see further bearish moves. The RSI is currently in a bearish position and looks like a breakout may take place at this level.