Price has formed a Double Top pattern, rejecting a key resistance zone and stalling at the neckline, which coincides with a strong horizontal support level. With Wave 5 completion, the market has entered an ABC corrective phase, where Wave B appears to be topping out. A confirmed break below the neckline would signal a high-probability drop toward Wave C, aligning with the ascending trendline—a critical demand zone. Confluence with Fibonacci levels and volume dynamics will be key in validating the next move, with bearish momentum likely accelerating if structure fails.
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