HSI captured in sideways trend channel

HSI moves within a neutral trend channel. It tested the upper limit and is seemingly now on the way to the lower limit. In between we find a fib retracement 78.6% - but this one seems to be weak.
The indicators are confirming the new short trend (RSI broke the trend to down, MACD is heading to negative zone with trigger line short before crossing the signal line).

I think HSI could rebound again on 29.500pt - but if the support is broken a further fall is possible. In this negative case the next support would be fib retracement 61.8% at 28.917 pt.

The fall out of the trend channel to the bottom would signal a bearish trend. A possible EW-corrective movement could follow as mentioned in the chart.