This is a good example of the relationship between supply and demand, accumulation and distribution (see the 1m chart insert from Friday 17th September). Price is constantly fluxing between the two forces deciding who has control of the market. At the point where the recent high fails to break, this is a strong signal that sellers could be in control and shorts become the more likely play. Eventually we see that demand is over-powered and at that point, price gives way and bearish momentum kicks in.
Study price at the weekends when the market is closed and eventually you'll see this unfold live before your eyes