As you can see the candle has clearly bounced of the 200 sma which has behaved like a support...The previous days candle was a doji and requires a confirmation which is the bullish engulfing candle we have today. So i would suggest that you wait for the opening of the new candle and take a buy. the target i am expecting it to reach is the 50 day moving average then will go in its natural direction which is downwards however anything can happen so trade carefully.