First off this is not a diamond, this a symmetrical triangle, second, symmetrical triangles could be resolved either way, for now there is still a wave E to play out at the bottom of the range, if the bounce does not surpass the mid line of the triangle of it's apex then there is a good probability of the continued move to the downside. However symmetrical triangles more often then not break to the upside, even though I'm personally biased short at the moment, not considering the opposite scenario would not be prudent.
