The price has recently faced a strong rejection from the 136–137 resistance zone, which aligns with a previous key level. This rejection confirms that sellers are defending this area aggressively.
After the sharp upward move, the market failed to continue higher and instead formed a lower high, signaling a potential shift from bullish momentum to bearish control. The current pullback shows weak buyer strength and increasing selling pressure.
Price is now hovering near the 93 support level, and repeated tests of this zone increase the probability of a breakdown.
Key bearish signals:
Strong rejection from major resistance (136–137)
Failure to maintain higher highs
Formation of lower high
Weak structure after impulsive move (sign of exhaustion)
Expected scenario:
Breakdown below 93
Move toward 80 support
Continued drop targeting 45–50 demand zone
Invalidation:
A strong breakout and sustained close above 137 would invalidate the bearish outlook and indicate bullish continuation.