The current downtrend is driven by a wave "c", unfolding towards the 138.2 percent Fibonacci projection level at $1.8915. The projection is based on the length of the wave "a" and the peak of the wave "b" at $2.9085, with the 161.8 percent level at $1.7175, which will become available once the support at $1.8915 is broken below. A bearish flag has been formed from Sept. 1 to Dec. 13, pointing to $1.7175 as well. Strategically, a fall below $2.1235 is needed to confirm the advance of the wave "c" towards $1.8915, while a further gain above $2.3910 will temporarily violate the bearish outlook. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.