T4J, we actually have a confluence of support from 2 different TF's. WE have the top of the daily cloud and the bottom of the weekly. It appears the weekly is a little deeper than the daily. That would allow for a slight wick spike into the cloud on the daily while the bottom of the weekly is being hit.
If this area does not hold, then it enters the daily cloud, and a spike outside of the weekly would be necessary to get the completed plunge to the bottom of the daily. If that turns out to be more than just a spike outside of the weekly, then it continues going south on the weekly, while pulling the daily out of the bottom. The chinkou on the weekly looks more dominant than the chinkou on the daily, so it appears we are going further south. A close under the daily kijun will confirm that scenario.
The 4-hour would be helpful to look at, but if I had to guess price action ranged high above the cloud, there was a sharp drop, and is probably still contained above a bullish cloud. As long as that is the case, some further consolidations may be seen first, while the previous peak will hold.