Price has moved down rapidly during the last hours and has now reached important support level, made up of the Weekly S2, the trendline going back to mid September and also the 5/8 fib retracement of the large bull wave up. If price cuts through this level and moves down towards the 8350 level, Weekly S3, we might see a flight reaction and a spike towards the 7600 level (horizontal support/resistance level and SMA200) and below that the Monthly S1. If price manages to find support by the trendline, which would be the natural thing, we might see buyers stepping in and quickly push the price higher. Any lingering and sideways action by the trendline or 9000 area may warn of a breakdown and a move lower. Bulls would like to see a reaction by the 9000 level, since there is a confluence support level.