Price is currently in a descending channel
testing the channel support and resistance
multiple times. However, price is now testing channel resistance as well as a resistance level
(which was previously support but now is a key resistance in the market). Price action is stating three rejections and now has formed three 'Shooting Star' Japanese candlesticks
which is a strong indicator of bearish
pressure holding price below this resistance level
. This set up is providing strong evidence of a reversal in the market to go short.